$6.4M in Cryptocurrency Seized by Australian Police in Major Criminal Crackdown

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The Australian Federal Police (AFP) have seized AU$ 9.3 m (US$6.4m) in cryptocurrency amid investigations into the criminal syndicate linked to an encrypted communications app called Ghost. The assets were seized after 32-year-old Jay Je Yoon Jung was arrested and charged with multiple offences including support of organized crime. The crypto was retrieved after a task force specialist analysed the “seed phrase” to the accounts Jung had created. This operation, as part of “Operation Kraken,” conceptualised in the AFP, is a massive leap forward for the organisation’s drive to seize criminal assets through complex digital forensics.