Australian Federal Police (AFP), in collaboration with global enforcement bodies such as the Joint Chiefs of Global Tax Enforcement (J5), have seized $6 million in cryptocurrency using advanced forensic tools, marking a significant blow to illicit financial activities.
The operation, which targeted transnational criminal networks, involved a data scientist from the AFP's Criminal Assets Confiscation Taskforce (CACT) who cracked a crypto wallet by identifying fabricated digits in a seed phrase sequence. AFP Commissioner Krissy Barrett revealed that the analyst spotted human-modified patterns—specifically, numbers added to the front of sequences—that computers missed, leading to the recovery of the funds. The same analyst later cracked another wallet using a different method, recovering over $1.9 million.
Seized assets primarily included Bitcoin (BTC) and Ethereum (ETH), with officials emphasizing that the action disrupted organized crime without causing notable market shifts, as the funds were criminal proceeds. Jane Smith, Chief Operating Officer of the J5, stated, "The successful seizure of this $6 million cryptocurrency cache demonstrates our united front against transnational financial crime. We will ensure that no matter where the criminals hide, we will pursue them relentlessly."
This effort is part of Operation Kraken, a broader investigation that has led to 46 arrests, 93 search warrants, and the restraint of AU$11.09 million in assets, underscoring intensified international cooperation to combat crypto-related crimes.
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