Record crypto seizure in UK estimated at $ 250 million

London Police on Tuesday announced the biggest cryptocurrency seizure in UK, carried out as part of a money laundering investigation, for the value of nearly $ 250 million, surpassing the previous record set just a few weeks ago.

Agents seized cryptocurrencies valued at nearly 180 million pounds ($ 250 million, € 210 million), calling it “one of the biggest seizures in the world.”

This exceeds the record 114million seizure of London Metropolitan Police in June and falls under an ongoing investigation into international money launderingScotland Yard underlined without specifying which currencies they are.

A 39-year-old woman was arrested on June 24 on suspicion of money laundering and then released on bail. She was then asked about the discovery of nearly £ 180million in virtual currencies on July 10.

“Less than a month ago, we managed to seize 114 million pounds of cryptocurrency. Since then, our investigation has been complex and far-reaching (…) Today’s seizure is another milestone in this investigation which will continue for months as we seek out those at the center of this alleged money laundering operation.Detective Joe Ryan explained in a statement.

Cryptocurrencies like bitcoin are regularly criticized by regulators for their illegal uses because of the anonymity they allow, as well as their ease of use.

“Although cash remains the king of the criminal world, as digital platforms develop, we are seeing more and more organized criminals using cryptocurrency to launder their dirty moneySaid Assistant Commissioner Graham McNulty. “While a few years ago it was fairly uncharted territory, now we have highly trained officers and specialized units working hard in this space to stay one step ahead of those who use it on special occasions. illicit purposes, ”he added.

According to a Chainalysis report released in February, virtual currency transactions for illegal purposes reached $ 10 billion in 2020, accounting for 1% of total cryptocurrency activity last year and half the amount for the year. previous, when this activity reached a record figure of $ 21.4 billion.

(With information from AFP)

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