U.K. Police Seizes $158 Million USD of Cryptocurrency in Money-Laundering Crackdown

The largest amount seized in the country’s history.

Tech
1,899 Hypes 0 Comments

As part of an ongoing money-laundering investigation, the U.K.‘s Metropolitan Police has now seized a staggering $158 million USD worth of cryptocurrencies. According to the department, the amount is the largest sum of its kind seized in the country’s history and comes in an effort to combat organized criminal activity.

“Cash remains king, but as technology and online platforms develop, some are moving to more sophisticated methods of laundering their profits,” said the Metropolitan Police’s deputy assistant commissioner Graham McNulty. “But, we have highly trained officers and specialist units working day and night to remain one step ahead. These officers not only work to disrupt and seize funds being transferred digitally, they continue to deprive criminals of hard cash.”

The new crackdown comes amid other recent money-related crimes within the crypto world. Back in 2020, the U.S. Department of Justice managed to recover 69,000 Bitcoins owned by dark web marketplace Silk Road’s founder Ross Ulbricht which was worth roughly $1 billion USD. Just last week, two founding brothers of a cryptocurrency exchange disappeared after an alleged “hack” on their platform which led to $3.6 billion USD’s worth of Bitcoins missing.

In other crypto-related news, El Salvador is gifting all its citizens $30 USD of Bitcoin each.

Read Full Article

What to Read Next

U.K. Regulators Have Blocked Crypto Exchange Binance
Tech

U.K. Regulators Have Blocked Crypto Exchange Binance

No specific reasoning was publicly given for the ban.

U.K. Police Bust Major Bitcoin Mining Operation They Thought Was a Drug Farm
Tech

U.K. Police Bust Major Bitcoin Mining Operation They Thought Was a Drug Farm

“It had all the hallmarks of a cannabis cultivation set-up.”

It Will Soon Be Illegal to Boil Lobsters Alive in the U.K.
Food & Beverage

It Will Soon Be Illegal to Boil Lobsters Alive in the U.K.

Joining New Zealand, Norway, and Switzerland.


PayPal Expands Cryptocurrency Trading Support to the United Kingdom
Tech

PayPal Expands Cryptocurrency Trading Support to the United Kingdom

Buy, sell, and withdraw at ease.

Quentin Tarantino on Retiring After Next Film: "From Here on in, Directors Do Not Get Better"
Entertainment

Quentin Tarantino on Retiring After Next Film: "From Here on in, Directors Do Not Get Better"

The filmmaker has remained adamant about exiting after his 10th film.

Take a Look at the Apple iPhone 13 Dummy Models
Tech

Take a Look at the Apple iPhone 13 Dummy Models

Revealing new camera orientations.

Vetements Reveals "Secret Project," Announcing New Brand Launch
Fashion

Vetements Reveals "Secret Project," Announcing New Brand Launch

“A brand from tomorrow, that is based on yesterday, on today.”

Tyler, the Creator and Doja Cat Projected to Debut Atop Billboard 200
Music

Tyler, the Creator and Doja Cat Projected to Debut Atop Billboard 200

‘Call Me If You Get Lost’ could earn Tyler’s biggest opening week yet.

Upcoming UNDERCOVER x Nike Air Force 1 Inspired by ACG Air Revaderchi
Footwear

Upcoming UNDERCOVER x Nike Air Force 1 Inspired by ACG Air Revaderchi

Coming in three colorways.


Vin Diesel Reveals He's "Dying to Do" 'Fast & Furious' Musical
Entertainment

Vin Diesel Reveals He's "Dying to Do" 'Fast & Furious' Musical

Car chases with singing?

Lil Uzi Vert Delivers Unexpected Feature on Country Singer's New Song
Music

Lil Uzi Vert Delivers Unexpected Feature on Country Singer's New Song

TikTok personality Kidd G’s “Teenage Dream 2.”

New 'Black Widow' Preview Teases Fight Between Natasha Romanoff and Taskmaster
Entertainment

New 'Black Widow' Preview Teases Fight Between Natasha Romanoff and Taskmaster

The upcoming Marvel film premieres July 9.

New Balance Goes Neutral for a Made in UK 577 Model
Footwear

New Balance Goes Neutral for a Made in UK 577 Model

Swathed in black, grey and white tones.

Wendy's Flexes New Vegetarian Spicy Black Bean Burger
Food & Beverage

Wendy's Flexes New Vegetarian Spicy Black Bean Burger

A square patty blended with black beans and chickpeas.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.