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British Police Seize $408 Million Worth Of Cryptocurrency

According to the latest report by the global news agency Reuters, the British police have seized cryptocurrency worth $294 million GBP ($408 million). The officials involved have said that this “seize” is a part of the ongoing investigations into the use of cryptocurrencies for money laundering purposes.  

The British police confirmed that there are organized criminal groups behind the illegal laundering of money using decentralized assets. They said it was dirty money being moved which was intercepted. British Police have not disclosed the name of the cryptocurrency/ies seized. 

Earlier on june 24, the investigating team had seized 114 million pound haul.“While cash still remains king in the criminal world, as digital platforms develop we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money,” said Metropolitan Police Deputy Assistant Commissioner Graham McNulty.

In connection with the money laundering activities the police also arrested a 39-year-old woman after they seized the first haul on June 24. The latest seizure has been a result of the ongoing investigation.

“Today’s seizure is another significant landmark in this investigation which will continue for months to come as we hone in on those at the centre of this suspected money laundering operation,” said Detective Constable Joe Ryan.



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