NSW police seize $4.2M in Bitcoin from darknet operator
NSW police seized 52.3 Bitcoin (about $4.2 million) during May 4 Ingleburn raids and charged two men, aged 39 and 41.
New South Wales Police recovered 52.3 Bitcoin, roughly $4.2 million, during search warrants executed in Ingleburn on May 4 and charged two men in an inquiry into an alleged darknet marketplace operator.
The operation is part of Strike Force Andalusia, launched in September 2024 after the NSW Police Cybercrime Squad identified a cryptocurrency wallet believed to contain proceeds from darknet trading. An earlier search at a Surfside residence produced electronic devices and about 7.2 grams of cocaine. Forensic analysis of the seized devices uncovered additional cryptocurrency connected to the investigation.
A 39-year-old man was charged with failing to comply with a digital evidence access order, a court requirement to provide access to digital devices or passwords. He also faces allegations of money laundering and drug supply. A 41-year-old man was charged with dealing with proceeds of crime over $100,000 for allegedly transferring the cryptocurrency. Authorities allege the 39-year-old refused to provide access to his devices when arrested, prompting the additional charge.
Detective Superintendent Matt Craft described the seizure as “one of the biggest cryptocurrency seizures in the nation’s history.” He noted investigators have strengthened their ability to track digital assets and recover illicit funds.
NSW Police stated that state cybercrime units and the Australian Federal Police have developed tools to trace transactions on the blockchain, the public ledger that records Bitcoin transfers. Investigators used those techniques to follow transaction histories and link the funds to suspected darknet activity.
NSW Police confirmed the matter reflects ongoing enforcement targeting darknet marketplaces and financial activity tied to them. Several recent Australian investigations have resulted in multimillion-dollar confiscations of digital assets.
Strike Force Andalusia remains active. Detectives continue to examine seized devices and cryptocurrency holdings while the charges proceed through the courts.
The material on GNcrypto is intended solely for informational use and must not be regarded as financial advice. We make every effort to keep the content accurate and current, but we cannot warrant its precision, completeness, or reliability. GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. Any actions you take based on this content are done at your own risk. Always conduct independent research and seek guidance from a qualified specialist. For further details, please review our Terms, Privacy Policy and Disclaimers.
Articles by this author
