December 1, 2021
  • December 1, 2021
  • Home
  • Cryptocurrency
  • Australian Police Confiscate Million Dollar Cryptocurrency With FBI Help – Bitcoin News

Australian Police Confiscate Million Dollar Cryptocurrency With FBI Help – Bitcoin News

By on October 30, 2021 0

Australian Federal Police (AFP) have confirmed that the Supreme Court of New South Wales has ordered the confiscation of cryptocurrency belonging to a convicted hacker. “The amount of cryptocurrency confiscated, over $ 1.2 million, is the largest cryptocurrency confiscation in the Commonwealth,” AFP said.

“The Commonwealth’s Largest Cryptocurrency Confiscation”

Australian Federal Police (AFP) announced on Friday that convicted hacker “has been ordered to confiscate more than $ 1.66 million [Australian dollars] in cryptocurrency and cash in the Commonwealth.

The 23-year-old Sydney offender pleaded guilty to various criminal offenses in October last year. The AFP-led Criminal Assets Confiscation Task Force (CACT) “secured restrictive orders on cryptocurrency as well as bank and Paypal accounts held under false names but suspected of being controlled by man, “AFP explained.

The New South Wales Supreme Court ordered the confiscation of his A $ 1.66 million from the Confiscated Commonwealth Assets account last week, including more than A $ 1.2 million (US $ 902,276 ) in cryptocurrency. AFP detailed:

The amount of cryptocurrency confiscated, over $ 1.2 million, is the largest cryptocurrency confiscation in the Commonwealth.

The funds will be redistributed by Home Secretary Karen Andrews to support crime prevention, law enforcement and community safety initiatives, the announcement describes.

The Australian conspired with a man in the United States “to steal the usernames and passwords of streaming service customers, then sold them online for a lower price,” AFP added. According to reports, the man’s name from Sydney is Evan McMahon. His accomplice in the United States was Samuel Joyner.

The investigation began after the United States Federal Bureau of Investigation (FBI) transmitted to AFP in May 2018 information about an account generator website that was selling stolen account details for subscription services. online, including Netflix, Spotify, and Hulu.

AFP cybercrime investigators later executed a warrant at the Sydney man’s home and seized cryptocurrencies and various evidence. He was sentenced to two years and two months in prison in April.

What do you think of this case? Let us know in the comments section below.

Tags in this story
afp, AFP bitcoin, AFP crypto, AFP cryptocurrency, Australia, Australia seizes bitcoin, Australia seizes crypto, commonwealth bitcoin, commonwealth crypto, FBI, seize cryptocurrencies, Sydney

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.


Source link