Australian Police Confiscate Cryptocurrency Value $1 Million With Assist From FBI – Regulation Bitcoin Information



The Australian Federal Police (AFP) has confirmed that the Supreme Court docket of New South Wales has ordered the forfeiture of cryptocurrency belonging to a convicted hacker. “The quantity of cryptocurrency forfeited, greater than $1.2 million, is the biggest Commonwealth forfeiture of cryptocurrency,” the AFP mentioned.
‘Largest Commonwealth Forfeiture of Cryptocurrency’
The Australian Federal Police (AFP) introduced Friday {that a} convicted hacker “has been ordered to forfeit greater than $1.66 million [Australian dollars] in cryptocurrency and money to the Commonwealth.”
The 23-year-old Sydney offender pleaded responsible to varied felony offenses in October final yr. The AFP-led Prison Property Confiscation Taskforce (CACT) “obtained restraining orders over cryptocurrency plus financial institution and Paypal accounts held in false names, however suspected to be managed by the person,” the AFP defined.
The Supreme Court docket of New South Wales ordered the forfeiture of his 1.66 million Australian {dollars} to the Commonwealth Confiscated Property Account final week, together with greater than AU$1.2 million (US$902,276) in cryptocurrency. The AFP detailed:
The quantity of cryptocurrency forfeited, greater than $1.2 million, is the biggest Commonwealth forfeiture of cryptocurrency.
The funds shall be redistributed by Minister for Dwelling Affairs Karen Andrews to assist crime prevention, regulation enforcement, and group safety-related initiatives, the announcement describes.

The Australian man conspired with a person within the U.S. “to steal the log-ins and passwords of streaming service clients after which offered them on-line at a less expensive price,” the AFP added. In accordance with reviews, the Sydney man’s identify is Evan McMahon. His confederate within the U.S. was Samuel Joyner.
The investigation started after the U.S. Federal Bureau of Investigation (FBI) referred info to the AFP in Could 2018 about an account generator web site that offered stolen account particulars for on-line subscription companies, together with Netflix, Spotify, and Hulu.
AFP cybercrime investigators subsequently executed a warrant on the Sydney man’s dwelling and seized cryptocurrency and numerous proof. He was handed a two yr and two month sentence in April.
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