Recently, the Australian Federal Police have seized $9.3 million AUD from the alleged mastermind behind the encrypted messaging platform Ghost.
Ghost was an encrypted messaging service used by crime groups to commit illegal activities, such as drug trafficking or money laundering. The platform was taken down last month after two years being investigated by Europol and global law enforcement agencies including the AFP.
A 32-year-old Sydney man was arrested on September 17 as part of AFP’s “Operation Kraken,” and charged with five offences, including supporting a criminal organisation. Note that the operation has no connection with the famous crypto exchange Kraken.
According to the AFP, the crypto assets were accessed and seized after analytics specialists at the AFP-led Criminal Assets Confiscation Taskforce deciphered the suspect’s seed phrase of hardware wallet devices at his home.
This is the second seizure of cryptocurrencies under AFP’s Operation Kraken after 2M AUD worth of assets linked to a Western Australia crime syndicate were restrained by the CACT in August this year.
“The restraint of these assets shows the technical capabilities and powers that the AFP, and our partners through the CACT, are able to bring to bear on organised crime,” AFP acting Commander Scott Raven said. “Whether you have tried to hide them in real estate, cryptocurrency or cash, we will identify your ill-gotten goods and take them away from you, leaving you with nothing.”
Operation Kraken
Operation Kraken is ongoing and has resulted in 46 arrests, 93 search warrants conducted, and intervening in 50 threats to life/threats to harm. Investigations have also seized 30 illicit firearms/weapons and $2.37m in cash and restrained $11.09 in assets since 2022.
The CACT said it would seek to have the restrained assets forfeited to the Commonwealth managed by the Australian Financial Security Authority to benefit the country’s crime prevention programs.
The CACT includes the AFP, Australian Taxation Office, Australian Criminal Intelligence Commission, AUSTRAC, and Australian Border Force.
