London’s Metropolitan Police, also known as MET, have seized $250 million worth of cryptocurrencies. In a raid described as the biggest the police’s biggest, the police confiscated $100 million more than they did last month. This raid brings the total amount of crypto seized to over $400 million.
In an announcement on Tuesday, the MET claimed that its Economic Crime Command division responded to intelligence on illegal crypto wallet transfers as part of its ongoing investigation on international money laundering.
The Deputy Assistant Commissioner, Graham McNulty, said:
“The detectives on this case have worked tirelessly and meticulously to trace millions of pounds worth of cryptocurrency suspected of being linked to criminality and now being laundered to hide the trail,”
He further explained that organized crypto criminals are taking advantage of digital platforms to launder their “dirty money.”
The police arrested a 39-year-old woman on suspicion of money laundering during the first raid and are currently interrogating her about the $250 million worth of illegal stashes of cryptocurrencies seized this week.
Although the MET did not reveal the exact cryptocurrencies seized, Detective Constable Joe Ryan referred to the successful raid as a “significant landmark” in the investigation. He added that the investigation would continue for months as they target those at the center of the suspected money laundering.
Image Credits: Pixabay
