Unknown Value of Crypto Assets Seized in Dark Web Drug Bust, Along with Multiple Cars and $80,000 In Cash


Cryptocurrency has been blamed for a lot of things, but one of the biggest issues it faces is that it keeps being tied in with major crimes on the Dark Web. Though the immutability and transparency that a blockchain holds is often the reason that even Dark Web transactions can ultimately be found. That fact alone keeps many criminals from ultimately using it, but nonetheless, a recent drug bust has come with cryptocurrency ties.

In Australia, two women and a man have recently been taken into custody following the sale of drugs, which occurred on the Dark Web. Though the authorities state that “initial inquiries indicate that more than $17 million has been transacted through the wallets in recent years,” the actual amount of crypto seized remained unreleased.

The wallets are still being analyzed, as they are believed to hold cryptocurrency that is “alleged to be the proceeds of crime.” Other assets seized includes $80,000 in cash, along with a Lexus, a Mercedes-Benz, and a Ford Falcon.

The report further states,

“Police will allege in court that the man was operating as an online vendor on the Dark Web and supplying prohibited drugs, including cocaine, MDMA, LSD, cannabis, methylamphetamine (ice), amphetamine, and prescription medication.”

The women, Callala Bay (24 years old) and Quakers Hil (20 years old), and Callala Beach (25 years old) have been refused bail at this time. They are still being detained, and details of a trial or sentencing are not yet available.

In Turkey, another crypto-related crime took place in Turkey recently. The Turkish police discovered the hack of a crypto exchange that used SIM swapping to steal $2.4 million worth of cryptocurrency that was allegedly stolen. Since the hacking, the authorities have arrested 24 individuals that they believe to have been responsible as hacks, attacks and all out brute force for bitcoin and its offspring continues.

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