Queensland Police have made what is believed to be the state’s first bitcoin-related arrest.

Police say about $110,000 worth of the digital currency was in the possession of Kingaroy man Shane Duffy, who is accused of hacking a US-based gaming network and selling player information to the highest bidder.

A computer seized by police during the arrest of Shane Duffy. Credit:Queensland Police Service

Bitcoin, a borderless digital currency, is often used instead of traditional cash methods online but is becoming more commonplace in mainstream business. Bitcoin values are known to fluctuate dramatically, with 1 coin currently worth about $616.

Police allege Mr Duffy hacked the League of Legends game network database between July 14 and July 26 last year, where he was able to acquire the IP addresses of players and sell them online.