Cryptocurrency in the drug probe is nothing new. But the cases are getting new day-by-day. According to news, Australian authorities seize $1Million worth of cryptocurrency just a few hours back. The Western Australia Police Force is the first to take the action quickly. In doing so, the police arrest a 27-year old man and a 25-year old woman. According to the Australian Border Force’s announcement, the man and woman were carrying 27.5g of MDMA drug tablets and 27.5g of MDMA drug powder from the United Kingdom. They conceal the whole drugs in a children’s toy painting kit. However, the masterminds get caught.

Throughout the investigation, the police seize an electronic device and find AU$1,524,102 worth of cryptocurrency from the accused. The amount of cryptocurrency seized is so far the highest value seizure by the Western Australian Police Force. The detective senior sergeant and officer in charge of the drug and firearm squad of the police force, Paul Matthews says the identification and seizure of over $1.5 Million of cryptocurrency highlight the current digital environment in which law enforcement agencies must operate.

Cryptocurrency in Drug Probe: What the Announcement Made?

According to the announcement, the man and woman arrested under the possession of drugs with intent to sell and supply (MDMA) and the possession of illicit drugs with intent to sell and supply (Cannabis) march to the courtroom.

Matthews also says that the team starts working on the investigation for all possible methods of holding financial assets. They’re using the latest technologies and digital forensic techniques to do the same. He also clarifies to media that the team is actively looking at all forms of wealth derived from the illicit drug trade.

Earlier this year Coindesk reports that $200,000 in Bitcoin seized in the Dark Net drug probe. Another report claims that the US authorities have seized $19million worth of Bitcoin from a drug trafficker. Similarly, UK based drug dealers land in jail a few months before.

All these news reports lead us to one serious question:

Are cryptocurrencies the best payment option for drug dealers?

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