BTC worth 8.4 Million Dollar Seized By Australian Police

Cryptocurrency News

Australian Police has seized crypto funds amounting to US$ 8.49 Million comprised in Bitcoins. Police assume that the seized assets belonged to one of the notorious marketplaces at darknet called the “Silk Road”. The funds were associated with illegal drug deals that took place in the year 2012, said the Australian Police.

Simone Fox Koob, the author of a famous publication called “Age” on Friday explained how Australian Police seized US$ 9 Million worth of crypto. He explained that the Police from the state of Victoria hit the jackpot when they captured a Bitcoin stash associated with a drug deal. Reportedly, the funds in Bitcoins were worth approximately US$ 8.4 Million. Police claimed that the seized crypto proceeds were part of a drug trafficking deal that took place nine years ago i.e. in 2012.

According to Victoria Police, the funds allegedly belonged to a notorious marketplace called “Silk Road”. This particular market is an online-based market that can only be accessed through the darknet. However, it is renowned for supplying illegal products and services, including illegal drugs.

Along with the seizure of Bitcoins, there were two arrests made by the Victoria Police. The individuals arrested involved a woman and a male of ages 31 and 30 respectively. Both were Australian nationals and were residents of Melbourne and Preston. When they were arrested, they were found in possession of marijuana, prescription drugs, psilocybin mushrooms, and MDMA. However, both of the individuals were released by the police for further investigation/inquiry. Evidently, the woman was charged with criminal charges of holding cannabis in her possession.

For the time being, the police are investigating the involvement of both individuals with the notorious marketplace. According to police both individuals were accomplices and conducted joint activities of criminal nature. Police also found both owners of huge wealth, however, the police failed to find any resources or source of income for such huge wealth. The police also claimed that the suspected persons were owners of multiple properties. Two of their properties too have been seized which were located in the areas of Dollar and Kinglake. The joint value of both the parties exceeds US$ 2 Million, said the police.

The police then searched their bank accounts from where they found cash of US$ 2.6 Million approximately. Two cars were also taken into police’s custody whose value is around US$ 100,000, claimed the police. According to police, the couple’s appearance was that of an ordinary couple, no one could have doubted them. However, they were criminals hiding beneath their public appearances. They were part of organized crimes and did most of their crimes while sitting in their living rooms through computers and other devices.

However, the investigation is still undergoing and the police are hopeful for obtaining further evidence against the suspected couple.

Leave a Reply

Your email address will not be published.