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Police Seize £180 Million Of Cryptocurrency In London

Detectives in London have seized a record-breaking haul of cryptocurrency worth almost £180 million, in part of a massive money laundering sting.


According to Forbes, the Metropolitan Police claim it is the largest amount of cryptocurrency ever seized by UK police forces and is believed to be the largest ever seizure of cryptocurrency globally.


The stash of cryptocurrency was discovered on Saturday 10 July after the Met’s Economic Crime Command received intelligence relating to the transfer of criminal assets.


The Met had already confiscated £114 million worth in cryptocurrency in June, which then set a record for cryptocurrency seizure in the UK.


A 39-year-old woman was arrested on 24 June on suspicion of money laundering offences following the first cryptocurrency seizure and was also interviewed concerning the seizure of the £180 million haul, before being bailed until late July, according to the Met.


Graham McNulty, the Met’s deputy assistant commissioner, said in a press release Tuesday that new technologies were helping criminal operations to evolve.


“While cash still remains king in the criminal world, as digital platforms develop, we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money,” he said. The Met did not give any specific information on any illicit activities the cryptocurrency was linked to, other than money laundering,” he said.


“Whilst some years ago this was fairly uncharted territory, we now have highly trained officers and specialist units working hard in this space to remain one step ahead of those using it for illicit gain.”


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