Australia cracks down on a cryptocurrency money laundering case involving $190 million in assets

2025-06-09 19:01:22

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ChainCatcher news, according to Decrypt, the Australian Federal Police conducted 14 raids in Brisbane and the Gold Coast from June 5 to 6 in a joint operation with multiple departments, dismantling a money laundering network suspected of converting $190 million in cash into cryptocurrency through an armored cash transport company.

The involved company is suspected of concealing the source of funds through cryptocurrency, antique car transactions, and shell companies. Four individuals have been charged, including a Brisbane man accused of laundering $9.5 million. A total of $170,000 in cryptocurrency assets, 17 properties, encrypted wallets of cryptocurrency devices, and business records and documents related to the alleged money laundering scheme have been seized, and the case is still under investigation.

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