New South Wales Police have seized 52.3 Bitcoin, valued at over $4.2 million, in what officials call one of the largest cryptocurrency seizures in Australian history.
During raids on May 4 in Ingleburn, detectives from the Cybercrime Squad executed search warrants targeting assets linked to darknet marketplace proceeds. A 39-year-old man was arrested and charged with failing to comply with a digital evidence access order, money laundering, and drug supply offenses. A second man, age 41, faces charges for dealing with the proceeds of crime.
The investigation, codenamed Strike Force Andalusia, began in September 2024 after authorities identified a Bitcoin wallet tied to suspected darknet activity. Police earlier searched a Surfside residence, seizing electronic devices and about 7.2 grams of cocaine.
Detective Superintendent Matt Craft said the operation demonstrates law enforcement's growing ability to track cryptocurrency transactions. "Criminals operating on the darknet often believe they are beyond the reach of law enforcement, but this investigation shows that is simply not the case," Craft said.