UK seizes nearly $250 million worth of cryptocurrency

The London police announced, on Tuesday, the largest seizure of cryptocurrency in the United Kingdom, carried out as part of a money laundering investigation, with a value of nearly $ 250 million, surpassing the previous record set just a few weeks ago.

Agents seized cryptocurrency valued at nearly £180 million (about $250 million), calling it “one of the largest seizures in the world.”

Scotland Yard stressed that it had broken the record for a seizure of £114m by London Metropolitan Police in June, part of an ongoing investigation into international money laundering.

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

“Less than a month ago, we were able to seize £114 million worth of cryptocurrency. Since then, our investigation has been complex and far-reaching… Today’s seizure is another important step in this investigation that will continue for several months to come.” Detective Joe Ryan explained at A statement that we are looking for the people at the center of the alleged money laundering operation.

The Cryptocurrency Such as Bitcoin They are regularly criticized by regulators for their illegal uses due to their anonymity, as well as their ease of use.

According to a Chainalysis report published in February, transactions in virtual currencies for illegal purposes amounted to $10 billion in 2020, 1% of all cryptocurrency activity last year and half the amount of the previous year, when that activity reached a record $21.4 billion.

See also  Joe Biden's trip to the UK is the subject of controversy over his Irish past

Leave a Reply

Your email address will not be published. Required fields are marked *