Odaily reports that Australian Federal Police have dismantled a cryptocurrency wallet containing $6.4 million, believed to be proceeds of crime from an organized crime syndicate. This operation is part of a broader crackdown on encrypted communications networks believed to be used by criminal corporations.

Australian Federal Police revealed they have cracked the mnemonic phrases in criminal wallets and seized a total of $6.4 million. In addition, police arrested 32-year-old Sydney resident Jay Je Yoon Jung, accused of developing the highly encrypted communication platform Ghost, which police believe was specifically designed for criminals. (Cryptopolitan)