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UK Police Breaks Record, Confiscates $250M Worth Crypto.

UK Police Breaks Record, Confiscates $250M Worth Crypto

One of the world’s biggest seizures.

As part of a money-laundering investigation, police in the United Kingdom confiscated a record £180 million ($250 million) in cryptocurrencies. Therefore, shattering a record established only weeks before. The seizure comes only weeks after the Metropolitan Police Service of Greater London seized a then-record $158 million in cryptocurrency.

Part of a global scale investiagtion

Based on intelligence regarding the movement of illicit assets, detectives from the Met’s Economic Crime Command conducted the seizures. Most importantly, they’re part of an ongoing investigation into money laundering on a global scale.

The Suspect

On June 24, the police arrested a 39-year-old woman on accusations of money laundering. She was, however, given bail and released. On Saturday, July 10th, the same woman appeared in interrogation under oath in connection with the finding of over £180 million worth of bitcoin. She got an extension to her bail till the end of July.

Detectives’ Comments

The inquiry will “continue for months to come,” according to Detective Constable Joe Ryan.

Additionally, Graham McNulty, Deputy Assistant Commissioner, stated:

“Proceeds of crime are laundered in many different ways. While cash remains king in the criminal world, as digital platforms develop, we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money.”

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