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Australia Seizes $1.5M Worth Of Cryptocurrency In Drug Bust

Australia Seizes $1.5M Worth Of Cryptocurrency In Drug Bust

Authorities in Western Australia seized $1.5 million in cryptocurrency following a drug bust, the Australian Border Force announced on Wednesday.

The ABF said that it tipped the WA police after intercepting 27.5 grams each of MDMA tablets and MDMA powder at the Perth Gateway Facility in October.

The drugs were hidden inside a children’s “toy painting kit” arriving from the U.K., the WBA said. The WA police’s investigation led it to a property in the city of Marangaroo near Perth, where the authorities found “several items consistent with those used to sell or supply Cannabis.”

One 27-year-old man and one 25-year-old woman were arrested and have been charged with various Australian laws prohibiting the possession or attempted possession of banned substances, the WBA said.

During the investigation, an electronic device with AU$1,524,102 worth of cryptocurrency was found.

“The cryptocurrency seizure is believed to be the highest value seizure of its kind made by [Western Australia] Police Force,” said Paul Matthews, detective senior sergeant, and officer in charge of the drug and firearm squad of the police force.

According to one of the officers involved in the investigation, it could be the largest ever cryptocurrency seizure ever made by the WA Police.

Posted-In: Australia drugsCryptocurrency News Legal Global Markets


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