Avon and Somerset Police have completed their largest cryptocurrency forfeiture to date, recovering £1,032,487.86 in cash, 20.21 BTC, and other digital assets from a deceased individual previously convicted of money laundering.
The seizure was authorized under the Proceeds of Crime Act after a court accepted the assets were proceeds of unlawful conduct. Investigators said the funds were traced to darknet marketplaces active between 2016 and 2019, using specialist tracing methods and support from the force's cyber team.
Detective Constable Anthony Davis of the Financial Investigation Unit said many people incorrectly believe crypto offers anonymity. "In reality, a permanent record of transactions is stored on a digital ledger called a blockchain, which can be an invaluable source of evidence," he stated.
The case is the force's largest since UK authorities gained powers in April 2024 to freeze crypto wallets without requiring a conviction. Recovered funds will be directed to community and policing programs, including education, early intervention, and crime prevention.
The action reflects a wider UK crackdown: in July, Metropolitan Police jailed three men for impersonating officers and stealing more than £4 million in crypto, while the FCA coordinated its first crackdown on illegal peer-to-peer crypto trading in April.
