OP 04 October, 2024 - 06:54 PM
$9.3 million in cryptocurrency disappeared from the hands of the criminals in a matter of seconds.
The Australian Federal Police (AFP) seized $9.3 million in cryptocurrency linked to an alleged head of an international crime organization as part of Operation Kraken. The operation was carried out by the Criminal Assets Confiscation Taskforce (CACT), led by the AFP.
On September 17, a 32-year-old man from the suburb of Narwee in South Sydney was arrested, suspected of creating and managing an encrypted communication platform called Ghost. He has been charged with five counts, including aiding a criminal organization.
The confiscation of crypto assets became possible thanks to an analytical specialist from CACT, who managed to decrypt the "seed phrase" — the key information for accessing the crypto wallet, which allowed AFP to transfer the criminals' funds to the agency's secure storage. It is noteworthy that this is already the second major seizure under Operation "Kraken." Assets linked to a criminal syndicate in Western Australia were previously seized.
According to AFP Acting Commander Scott Raven, criminal groups attempting to conceal the proceeds of illegal activities are facing the high-tech capabilities and powers of the AFP and CACT. Raven emphasized that the agency is capable of detecting and seizing any assets—real estate, cryptocurrency, or cash—depriving criminals of their resources.
As part of Operation "Kraken," the following results have also been achieved:
46 arrests;
93 searches;
prevention of 50 threats to life and health;
interception of attempts to import over 200 kg of drugs;
seizure of 30 units of firearms and cold weapons;
confiscation of cash amounting to $2.37 million;
arrest of assets totaling $11.09 million.
The investigation is ongoing, and CACT intends to seek the confiscation of all seized assets in favor of the state. Established in 2012, CACT brings together resources and specialists from various Australian agencies, including the police, tax office, criminal intelligence, border protection, and the transaction report and analysis center. They all effectively collaborate with each other to achieve the set goals.
According to Australian law, confiscated assets are directed to a special account to fund crime prevention programs, rehabilitation, and support for law enforcement initiatives across the country. Since July 2019, CACT has already confiscated over $1.1 billion in criminal assets, dealing a significant blow to organized crime.
source : https://afp.gov.au/news-centre/media-rel...leged-head
The Australian Federal Police (AFP) seized $9.3 million in cryptocurrency linked to an alleged head of an international crime organization as part of Operation Kraken. The operation was carried out by the Criminal Assets Confiscation Taskforce (CACT), led by the AFP.
On September 17, a 32-year-old man from the suburb of Narwee in South Sydney was arrested, suspected of creating and managing an encrypted communication platform called Ghost. He has been charged with five counts, including aiding a criminal organization.
The confiscation of crypto assets became possible thanks to an analytical specialist from CACT, who managed to decrypt the "seed phrase" — the key information for accessing the crypto wallet, which allowed AFP to transfer the criminals' funds to the agency's secure storage. It is noteworthy that this is already the second major seizure under Operation "Kraken." Assets linked to a criminal syndicate in Western Australia were previously seized.
According to AFP Acting Commander Scott Raven, criminal groups attempting to conceal the proceeds of illegal activities are facing the high-tech capabilities and powers of the AFP and CACT. Raven emphasized that the agency is capable of detecting and seizing any assets—real estate, cryptocurrency, or cash—depriving criminals of their resources.
As part of Operation "Kraken," the following results have also been achieved:
46 arrests;
93 searches;
prevention of 50 threats to life and health;
interception of attempts to import over 200 kg of drugs;
seizure of 30 units of firearms and cold weapons;
confiscation of cash amounting to $2.37 million;
arrest of assets totaling $11.09 million.
The investigation is ongoing, and CACT intends to seek the confiscation of all seized assets in favor of the state. Established in 2012, CACT brings together resources and specialists from various Australian agencies, including the police, tax office, criminal intelligence, border protection, and the transaction report and analysis center. They all effectively collaborate with each other to achieve the set goals.
According to Australian law, confiscated assets are directed to a special account to fund crime prevention programs, rehabilitation, and support for law enforcement initiatives across the country. Since July 2019, CACT has already confiscated over $1.1 billion in criminal assets, dealing a significant blow to organized crime.
source : https://afp.gov.au/news-centre/media-rel...leged-head
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