December 1, 2022

Australia Police Make 2,000% Profit From Confiscated BTC

Australian authorities earned twenty times profit from BTC seized as a result of illegal sale cryptocurrency firearms.

According to the annual report publishedBy the Australian Federal Police, authorities caught an illegal firearms dealer in 2016 and confiscated $ 5,000 BTC from him. The authorities were able to gain control of the cryptocurrency in January 2018, by which time the value of confiscated BTCs had grown more than 20 times.

The report claims that cryptocurrency wasdeposited in the confiscated assets of the Commonwealth of Nations, which is used to finance the fight against crime. The 2016 arms trafficking case was also the first time that Australian federal authorities have seized BTC. Since then, the number of such cases in the country has increased.

In mid-September, Australian police uncovereda syndicate that laundered stolen funds through cryptocurrencies. In August, it became known that 15 countries, including Australia, were developing a new system to prevent money laundering through cryptocurrencies. Recall also that at the end of summer against five Australians charges of cryptocurrency fraud in the amount of $ 1.83 million were brought.