Police have busted a suspected £180 million cryptocurrency laundering fund which they believe to be one of the largest seizures of the near-anonymous electronic currency in the world.
Detectives said the latest raid on the fund linked tops the £114m record made by the Met just over two weeks ago.
Officers from the Met’s Economic Crime Command made the seizure following up on intelligence about the transfer of criminal assets.
They form part of an ongoing investigation into international money laundering.
A 39-year-old woman was arrested on June 24 on suspicion of money laundering offences. She was released on bail.
The same woman was interviewed under caution in relation to the discovery of the near £180 million worth of cryptocurrency on Saturday, July 10.
She has been bailed to a date in late July.
Det Cons Joe Ryan said the operation has been “complex”.
He added: “We have worked hard to trace this money and identify the criminality it may be linked to. Today’s seizure is another significant landmark in this investigation which will continue for months to come as we hone in on those at the centre of this suspected money laundering operation.”
Deputy Assistant Commissioner Graham McNulty added: “Whilst some years ago this was fairly unchartered territory, we now have highly trained officers and specialist units working hard in this space to remain one step ahead of those using it for illicit gain.
“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. Those linked to this money are clearly working hard to hide it. Our investigation will stop at nothing to disrupt the transfer and identify those involved.”
Bitcoin transactions provide more anonymity to senders and recipients of money as, while the transactions all form part of a large ledger, the wallet addresses of those involved in transactions do not contain identifiable details.
