Millions of Dollars Worth of Bitcoin Reportedly Seized in Australian Drug Bust
Australian newspaper The Age this week reported that millions of dollars worth of bitcoin has been seized in a drug bust spearheaded by Victorian authorities. Said report indicates that the Director of Public Prosecutions "obtained a restraining order" on the bitcoins from the suspected drug traffickers' wallet some time in 2012-2013. This information came from the office's most recent annual report presented on Tuesday in state parliament. "Criminals have embraced the digital currency to transact in illicit goods and to launder money across borders, posing a challenge to law enforcement,"....
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Following the arrest, two years ago, of a Silk Road drug dealer living in Melbourne, Victoria authorities announced the planned sale of the $9.6 million worth chunk of the digital currency seized during the investigation. The Australian citizen, Richard Pollard, was sentenced on Friday to 11 years jail time after pleading guilty to commercial trafficking, accompanied by a non-parole period of seven years and four months. The 325 days he already served in custody will be subtracted from the total. The two houses belonging to the 32 years old man were raided in late 2012, in accordance with....
A Bitcoin ATM located in the city of Brisbane (Australia) has been seized in part of a drug trafficking sting. The ATM was taken by the local police because of its alleged connection with a sting which brought in product worth more than 2.6 million dollars. The ATM was located in a cafe called The Roastery Cafe, which, according to the investigators, was a huge traffic hub for drugs including methamphetamines and cocaine. Also read: Australia to Get 100 Bitcoin ATMs. Bitcoin ATM Embroiled In Drug Trafficking Investigation. Brent Carrall, the 34-year-old co-owner of the Roastery Cafe who....
County authorities captured the cryptocurrency during a 2018 drug bust in Long Branch. A county in the state of New Jersey has announced the liquidation of cryptocurrency assets seized in 2018.On Monday, the prosecutor’s office in Monmouth County announced that the confiscated crypto —initially valued at $57,000 at the time it was seized — was liquidated on Coinbase for $198,237 at a quote “profit” of $141,000.Authorities captured the cryptocurrency during a 2018 drug bust in Long Branch. The assets were frozen on a United States-based crypto exchange once officials determined them as....
Finland’s customs authority is looking for brokers to sell 1,981 bitcoins seized in drug cases. The coins are currently worth nearly $80 million. Finland’s customs authority announced Thursday that it is seeking brokers to sell 1,981 bitcoins seized in drug busts, Bloomberg reported, noting that the coins were forfeited to the state by court order. At the time of writing, the bitcoin stash is worth $78.75 million. Most of the seized coins were accumulated in raids before 2018. The Finnish State Treasury set out guidelines for handling crypto assets that year. It prohibited....
Millions in Bitcoin were seized in a police operation. Per a report by news portal Birmingham Live, Jehanzeb Amar and Salahyndin Warsame were convicted for running a drug trafficking operation in Birmingham. In over two years, the subjects were paid more than $4.8 million (around 3.5 million in pounds sterling) for selling “huge amounts” of […]