New South Wales Police Seize $1 Million in Bitcoin and Luxury Items, Uncover Dark Web Drug Network
In a landmark operation, an Australian man has been apprehended by the New South Wales police for his alleged involvement in laundering millions of dollars for a dark web drugs vendor. The arrest unfolded as part of an extensive investigation into a dark web network responsible for distributing drugs worth over $80 million in the past six years.
The breakthrough came with the execution of three search warrants in Sydney on January 9 and 10, resulting in the seizure of 14.6 bitcoins (equivalent to $1 million), along with $8735 in AUD and $7800 in USD. Additionally, law enforcement officials uncovered and confiscated luxury watches and jewelry valued at over $1 million, as well as various electronic devices.
The 36-year-old suspect, whose identity remains undisclosed, was taken into custody on January 9 and has been charged with knowingly dealing with the proceeds of crime and supplying a prohibited drug. Despite legal efforts, the Downing Centre Local Court denied bail on January 10, scheduling the accused to appear before the same court on March 7.
Detective Superintendent Matthew Craft, leading the Cybercrime detectives involved in the operation, highlighted the significance of the $1 million crypto seizure. “This is one of the largest single seizures of crypto in recent years. Working alongside partner agencies, such as the NSW Crime Commission, we’re aggressive in our search and seizure capabilities, and to those who think they can hide on the dark web or hide their assets in cryptocurrency, those things are no longer barriers for us.”
Craft also emphasized the risks associated with engaging in illicit activities on the dark web, urging the public to be aware of the consequences. “I’d also like to remind the public that buying drugs on the dark web comes with a huge risk, not only because it is completely illegal, but because you don’t know who you’re dealing with and whether your product is what it says it is.”
The successful operation showcases the New South Wales Police’s commitment to tackling cybercrime and dismantling illicit networks operating on the dark web.