Australian Police Seized $1 Million in Crypto

December 4, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Western Australia police announced the seizure of Australian $1.52 million (about US$1 million) in cryptocurrencies from detainees charged with drug trafficking.

It is reported that a 27-year-old man and a 25-year-old woman were arrested on charges of transporting 27.5 grams of ecstasy tablets and 27.5 grams of white powder. Young people transported drugs from the UK in a children’s drawing kit. During the investigation, the police discovered an electronic device on which cryptocurrencies worth about $1 million were stored.

“The cryptocurrency seizure is believed to be the highest value seizure of its kind made by [Western Australia] Police Force,” said Paul Matthews, detective senior sergeant and officer in charge of the drug and firearm squad of the police force. Matthews added: “The identification and freezing of over $1.5million of cryptocurrency in these circumstances highlights the current digital environment in which law enforcement agencies must operate.”

Both Australian citizens have been charged with trafficking and possession of narcotic drugs for the purpose of selling; now the case is being heard in court.

At the end of November, New Zealand police confiscated about $4.2 million in cryptocurrencies from the 31-year-old programmer Jaron David McIvor, who participated in the creation of the site of pirated films in the United States.

Author: Marko Vidrih