Police seize record $249 million of cryptocurrency in UK

The confiscation is regarded as one of many largest globally, the Met Police stated, and comes simply weeks after police confiscated £114 million ($158 million) of cryptocurrency in June.

The seizures had been made by the drive’s financial crime command, after pursuing intelligence acquired concerning the switch of prison belongings, a press assertion stated Tuesday.

The seizures fashioned a part of an ongoing investigation into worldwide cash laundering.

Cryptocurrency is an all-digital cash system made up of “coins” or “tokens” which might be managed by a decentralized ledger.

Police haven’t specified which cryptocurrency was seized.

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A 39-year-old lady was arrested on June 24 on suspicion of cash laundering offenses, and was launched on bail, police stated.

She was interviewed below warning in relation to the most recent discovery of practically £180 million on July 10 and has been launched on bail till later this month, the drive added.

Detective constable Joe Ryan stated this month’s seizure was a “significant landmark” in an ongoing operation.

“Less than a month ago we successfully seized £114 million in cryptocurrency. Our investigation since then has been complex and wide-ranging,” he stated.

“We have worked hard to trace this money and identify the criminality it may be linked to. Today’s seizure is another significant landmark in this investigation which will continue for months to come as we hone in on those at the centre of this suspected money laundering operation,” Ryan added.

Deputy assistant commissioner Graham McNult added within the assertion: “Proceeds of crime are laundered in many different ways. 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.

“Whilst some years in the past this was pretty unchartered territory, we now have extremely skilled officers and specialist models working arduous on this area to stay one step forward of these utilizing it for illicit acquire.”

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