Police set new UK record, seize £ 180 million worth of cryptocurrency – Bitcoin News
The UK’s Metropolitan Police have seized an incredible £ 180 million in cryptocurrency as part of a money laundering investigation. The announcement comes just weeks after Scotland Yard seized £ 114 million in crypto, breaking the previous record.
British police discovered £ 180 million in crypto linked to criminal transfers
Law enforcement agencies in the UK have announced the seizure of a record amount of cryptocurrency during an ongoing investigation into international money laundering. Detectives said they seized nearly £ 180 million (nearly $ 250 million) worth of crypto, with no further details on the types of coins and how they were seized.
“This is considered to be one of the largest seizures in the world, surpassing the £ 114 million seizure on Thursday the 24th.
Both seizures were carried out by members of the MPS’s Economic Crime Command, Scotland Yard noted. Investigators used information received by the UK police about the transfer of criminal assets.
“Less than a month ago, we successfully seized £ 114 million in cryptocurrency. Our investigation since then has been complex and far-reaching, ”commented Detective Constable Joe Ryan, emphasizing that his colleagues have worked hard to track down the money and identify the crime it may be associated with. He further said:
Today’s seizure is another major milestone in this investigation, which will continue for months as we investigate the individuals at the center of this suspected money laundering operation.
As part of the investigation, police arrested a 39-year-old woman on June 24, who is suspected of money laundering. She was interviewed on Saturday, July 10th, in connection with the discovery of the £ 180 million crypto supply and has since been released on bail until an unspecified date in late July.
Scotland Yard improves its expertise in cryptocurrency
Crime revenue can be laundered in many different ways, noted Deputy Assistant Commissioner Graham McNulty. And while “cash still remains king” in the criminal world, the development of digital platforms has increased the use of cryptocurrencies to launder dirty money from organized crime.
Meanwhile, Scotland Yard has improved its expertise in the field over the past few years, and McNulty stated:
While this was pretty much uncharted territory a few years ago, we now have highly qualified officers and special forces who work hard in this area to stay one step ahead of those who use it for illegal purposes.
According to the law enforcement officer, in this latest case, police detectives went to great lengths to track down the multi-million pound cryptocurrency. “Those associated with this money are obviously working hard to hide it. Our investigation will stop at nothing to disrupt the transfer and identify those involved, ”McNulty was quoted as saying.
What do you think of the massive crypto seizure announced by the UK police? Let us know in the comment section below.
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