Bitcoin News

UK police make record cryptocurrency seizure

British police announced Tuesday that they had confiscated a record PS180million ($250 million, or 210 million euros) worth of cryptocurrency suspected to have been used in criminal enterprise.

According to police, the country’s biggest ever haul was part of an ongoing investigation into international cash laundering and intelligence about the transfer criminal assets.

It is also believed to be linked to the previous record-breaking cryptocurrency theft, which was made last month.

“We successfully seized PS114 Million in cryptocurrency less than a month ago,” stated Metropolitan Police Detective Constable Joe Ryan.

“Our investigations have been complicated and extensive since then. We worked hard to track this money and to identify any criminal connections.

After last month’s seizure

A 39-year-old female was taken into custody on suspicion of money laundering. She was released on bail.

This woman was also interviewed under caution regarding the PS180 million seizure on July 10.

Graham McNulty, Deputy Assistant Commissioner, stated that while cash is still the king of crime, digital platforms are allowing organised criminals to use cryptocurrency to wash their dirty money.

“While this area was not well-known a few years back, we have highly trained officers and specialist units who work hard in this area to stay one step ahead of those trying to use it for illicit gains.”