Australian Police Seize $6.4 Million in Cryptocurrency During Operation Against Encrypted Messaging App
The Australian Federal Police has launched a large-scale operation targeting a messaging app linked to criminal activities, resulting in the seizure of a significant amount of cryptocurrency.
Australia's Federal Police (AFP) has confiscated $6.4 million in cryptocurrency during a significant operation targeting Ghost, a messaging app accused of being a tool for criminal activities. Operation Kraken, the codename given to this initiative, has no affiliation with the Kraken cryptocurrency exchange, which has clarified that it is not under investigation.
The seized crypto was discovered as part of an international effort against this encrypted network, which authorities allege is designed specifically for criminals. A statement from the AFP notes that this action follows the arrest of Jay Je Yoon Jung, a 32-year-old from Sydney, believed to be the key individual behind the app.
The authorities plan to secure the confiscated cryptocurrency permanently. As for the operation, it involved around 700 members of the AFP executing 93 search warrants, leading to 46 arrests and the seizing of significant quantities of illicit drugs and weapons.
Read More: Australians Lost $122M Worth of Crypto to Scams in 12 Months: Police
