That’s a Lot of Coin! Detectives in London Seize US$130 Million Worth of Stolen Cryptocurrency

Bitcoin, the world’s most popular cryptocurrency, is currently worth US$34,277. Other cryptocurrencies include Ether, Dogecoin, Cardano, XRP, Stellar, Polkadot and Litecoin.

Detectives in London have seized US$130 million (£180 million) worth of stolen cryptocurrency - a new UK record and detained a woman suspected of money laundering.

It comes only weeks after the Metropolitan Police made another whopping cryptocurrency seizure - US$82 million (£114million).

Both raids were conducted by the Met’s Economic Crime Command following intelligence received about money laundering by international criminal gangs.

The ASA, U.K.'s advertising #watchdog, has announced it will increase vigilance on #cryptocurrency ads and campaigns. https://t.co/UEIbE1vYL6

— Bitcoin News (@BTCTN) July 13, 2021

​A 39-year-old woman has been released on bail after being arrested on 24 June on suspicion of money laundering offences.

She was interviewed under caution in relation to the discovery of US$130 million in cryptocurrency on Saturday 10 July.

Deputy Assistant Commissioner Graham McNulty said: "While cash still remains king in the criminal word, as digital platforms develop we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money."

Detective Constable Joe Ryan said: "We have worked hard to trace this money and identify the criminality it may be linked to. This 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."

In January 30 people were charged in Japan with trading in stolen cryptocurrency and in February the US authorities charged three North Korean computer programmers with a series of cyberattacks which were designed to steal US$1.3 billion.