Australia Police Seize $4.1 Million in Bitcoin Linked to Dark Web Drug and Weapons Trafficking

According to Odaily, the New South Wales Police in Australia have seized 52.3 Bitcoin, valued at $4.1 million, following a 15-month investigation. This marks one of the largest operations against dark web crypto crime in Australia in recent years. The traced assets originated from local dark web markets in Sydney, linked to proceeds from illegal drug and weapons trading. Police have arrested two involved men, who will appear in court in separate sessions. The seizure comes amid a tightening of crypto regulations in Australia, with AUSTRAC ramping up anti-money laundering checks on local exchanges and over-the-counter crypto service providers. A new legal framework for digital assets has also been implemented, and from 2027, crypto platforms will be formally included in the financial licensing regulatory system to strictly address cryptocurrency-related crimes and money laundering risks. (Cointelegraph)