Categories: Market

British police seize nearly $ 160 million in cryptocurrency in money laundering case

The UK has seized 114 million pounds ($ 158.8 million) of cryptocurrency, the largest crypto seizure ever in the UK and one of the largest in the world.

London Metropolitan Police Department Headquarters, UK

The arrest was made by investigators from the Metropolitan Police Department’s Economic Crimes Command, based on intelligence. The police did not disclose which coins the seized cryptocurrency contained.

Detective Constable Joe Ryan said, “Criminals need to legalize their money or risk being confiscated by law enforcement agencies. Crime proceeds are almost always laundered to hide their origins, but by disrupting cash flows before reinvesting them, we can make London an extremely difficult place for active crime. “

“Cash is still king, but as technology and online platforms advance, some people are turning to more complex methods of money laundering. But we have highly trained officers and specialized units working around the clock to stay one step ahead. ”Law enforcement official Graham McNulty added that the investigation is expanding.

Recently in a report from the Financial Times they claim that Monero’s (XMR) security features are making it increasingly popular with criminals. This makes the work of law enforcement agencies much more difficult. The newspaper concluded that criminals are many times more likely to use XMR than BTC for payments.

Thach Sanh

According to AZCoin News

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

11 minutes ago

Clanker Token Trading Volume Hits $59.8 Million High

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

39 minutes ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

1 hour ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

2 hours ago

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

3 hours ago

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

4 hours ago

This website uses cookies.