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The Largest Seize: $1.5 Mln Worth of Crypto Arrested by Australian Border Police

04 December 2019 13:47, UTC
Denis Goncharenko
According to a new report from the Australian border police, the largest seize of cryptocurrency assets in the world occurred yesterday with more than $1.5 million’s worth of digital assets being taken away by the police from a couple trying to cross the Australian border.

According to the same report, the couple were arrested due to drug trafficking into the country. The police took more than 50g of MDMA and ecstasy from the couple’s house in Perth. One policeman noted that during the raid, several officers found an electronic device which contained the cryptocurrencies in question.

Needless to say, the event was followed up by a senior officer’s comment saying that the Australian police department needs to be better prepared for new cybercrimes that are now plaguing the world around Australia, as well as Australia itself.

13-11-2019 15:57:10  |   News
Although most of the world’s drug trafficking crimes are being conducted through fiat currencies (around 99% of it), it’s still important to note that Bitcoin usage is on the rise, which means we should expect much stricter rules and regulation from the government’s side. So much so that seeing police digging in customer data for crypto exchanges in several countries could become a weekly occurrence.