Australian authorities seize crypto worth $1 million in drug bust
|- The accused were trying to import MDMA hidden in a children’s toy painting kit.
- This is reportedly the highest value seizure made by the Western Australia Police Force.
The Western Australian Police Force has recently confiscated around AUD1.5 million (almost $1 million) worth digital currency in a drug bust. This is reportedly the largest crypto amount seized by the authorities. The Australian Border Force (ABF) announced that the authorities have arrested two individuals – a 27-year-old man and a 25-year-old woman – in the drug bust. They were allegedly trying to import MDMA.
The drugs were exposed when the ABF officers were screening international mail at the Perth Gateway Facility. The accused had hidden the drugs in a children’s toy painting kit. The authorities located 27.5g of MDMA tablets and 27.5g of MDMA powder from the package that was imported from the United Kingdom, which was bound for an address in the Perth metropolitan area. The authorities also confiscated an electronic device that reportedly stored local fiat in cryptocurrency worth AUD1.5 million.
Detective Senior Sergeant Paul Matthews, the officer in charge of the drug and firearm squad, commented on the drug bust. He said:
While WA Police Force has seized millions of dollars’ worth of physical property and bank account assets in the course of several drug investigations, particularly those involving established criminal networks, the identification and freezing of over $1.5million of cryptocurrency in these circumstances highlights the current digital environment in which law enforcement agencies must operate.
This is reportedly the highest value seizure made by the Western Australia Police Force. Matthews further stated:
Using the latest technologies and digital forensic techniques we thoroughly investigate all possible methods of holding financial assets, and will target all forms of wealth that may be derived from the illicit drug trade.
The accused have been charged with two counts of possession of drugs with the intent of selling and supply.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.