In what is supposedly one of the biggest crackdowns on an illicit darknet marketplace utilizing cryptocurrencies in Australia, cybercrime police confiscated 52 Bitcoin with a value of 5.7 million Australian dollars ($4.1 million).
On Wednesday, the New South Wales Police Force announced that after a 15-month investigation, Strike Force Andalusia, a unit of the State Crime Command’s Cyber Crime Squad, had apprehended two individuals connected to a darknet marketplace based in Ingleburn, Sydney, and confiscated cryptocurrency valued at $4.1 million.
Two males, one in his 40s and the other in his 30s, reportedly had access to the crypto wallet, according to the police. The 39-year-old is due in Batemans Bay Local Court on June 15, while the 41-year-old is slated to appear in Campbelltown Local Court on May 13.
On May 4, detectives from the Ingleburn authorities Department carried out a search warrant at a residence. During the search, they confiscated several electronic equipment and reportedly found 52.3 Bitcoin, which the authorities claim to be the reward for illicit darknet transactions.
Crackdown on Illicit Operations
One of the biggest crypto seizures in Australia linked to the dark web has occurred during this investigation. The seizure of $6.2 million worth of crypto from an illicit darknet organization occurred five years ago in August 2021, as reported by the local news station 9News.
According to Detective Superintendent Matt Craft, this is a major seizure of crypto and a stark illustration that criminals on the dark web are not operating in complete anonymity. He went on to say that dark web markets continue to play a significant role in facilitating illegal activities.
The seizure coincides with heightened oversight of Australia’s digital asset industry by AUSTRAC, the country’s financial intelligence and anti-money laundering body.
Local exchanges in the nation and virtual asset service providers (VASPs) that provide over-the-counter crypto-to-cash services were the targets of two campaigns that AUSTRAC announced on Friday.