Australian Federal Police Seizes Nearly 25 Bitcoin and Assets Linked to 2013 Crypto Exchange Hack
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The Australian Federal Police (AFP) has made significant asset seizures, including 25 Bitcoin and high-value properties, linked to a notorious crypto hack. In an operation stemming from a lengthy investigation, the AFP has underscored the importance of tracing crypto assets tied to criminal activities. “This operation illustrates our commitment to tackling cybercrime,” stated AFP Commander Jason Kennedy, emphasizing their use of unique powers under the Proceeds of Crime Act. The AFP seizes nearly 25 Bitcoin, a mansion, and a luxury car, alleging connections to a 2013 crypto exchange hack—reinforcing its fight against cybercrime. Seizures Connect to Major Cyberheist and Utilization of Crime Proceeds Amid rising concerns regarding cryptocurrency-related criminal activities, the Australian Federal Police have reported seizures totaling nearly 25 Bitcoin (BTC) alongside a luxurious mansion and a high-end Mercedes-Benz, valued collectively at approximately 4.5 million Australian dollars (around $2.88 million). The key question remains: how do these assets connect to illicit activities? The AFP’s Criminal Assets Confiscation Taskforce (CACT) indicated that the seized assets are potentially linked to earnings derived from crime, specifically involving a significant 2013 hack of a French crypto exchange, resulting in the theft of 950 Bitcoin. Investigative Insights: Ties to Previous Cyber Crimes Shane Stephen Duffy, the identified owner of the confiscated assets, has a checkered past, previously convicted of computer hacking in 2016 for selling stolen data from League of Legends players. This incident raises questions about the pathways through which criminal proceeds can intertwine with valuable assets. Following an investigation triggered by shared intelligence from Luxembourg about suspect Bitcoin transactions, the AFP strategically connected these dots, ultimately leading to Duffy’s asset seizure. Legal Framework and Crime Prevention Efforts The AFP has been empowered to act under the Proceeds of Crime Act, which allows the agency to restrain and forfeit assets allegedly tied to…
