The London Metropolitan Police has seized $249 million in crypto, which represents the largest confiscation ever recorded in the UK and one of the biggest ever on a global scale. The police haven’t confirmed which crypto was confiscated.
Less than a month ago, the Met Police seized $158 million worth of crypto.
These confiscations are part of an investigation that is still in progress regarding international money laundering.
Detective Constable Joe Ryan commented that this capture represents a “significant landmark” in the ongoing operation:
“Less than a month ago we successfully seized £114 million in cryptocurrency. Our investigation since then has been complex and wide-ranging. We have worked hard to trace this money and identify the criminality it may be linked to. Today’s seizure is another significant landmark in this investigation which will continue for months to come as we hone in on those at the centre of this suspected money laundering operation.”
Deputy assistant commissioner Graham McNult also declared: “Proceeds of crime are laundered in many different ways. While cash still remains king in the criminal world, as digital platforms develop we’re increasingly seeing organized criminals using cryptocurrency to launder their dirty money. Whilst some years ago this was fairly unchartered territory, we now have highly trained officers and specialist units working hard in this space to remain one step ahead of those using it for illicit gain.”