Skip to content

UK police make records $250m cryptocurrency seizure

bitcoin

Cryptocurrency: Bitcoin

British police on Tuesday announced they had seized a record £180 million ($250 million, 210 million euros) of cryptocurrency that is suspected of having being used in criminal enterprises.

The country’s largest ever haul was made as part of an ongoing investigation into international money laundering and used intelligence received about the transfer of criminal assets, according to police.

They also believe it is linked to the previous record criminal cryptocurrency haul, made just last month.

RECOMMENDED FOR YOU

“Less than a month ago we successfully seized £114 million in cryptocurrency,” explained Metropolitan Police Detective Constable Joe Ryan in a statement.

“Our investigation since then has been complex and wide-ranging. We have worked hard to trace this money and identify the criminality it may be linked to.”

A 39-year-old woman was arrested on June 24 on suspicion of money laundering offences after last month’s seizure, before being released on bail.

The same woman was interviewed under caution in relation to the £180 million seized on July 10.

“While cash still remains king in the criminal word, as digital platforms develop we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money,” said Deputy Assistant Commissioner Graham McNulty.

“Whilst some years ago this was fairly uncharted territory, we now have highly trained officers and specialist units working hard in this space to remain one step ahead of those using it for illicit gain.”

AFP

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: