Australian Police Seizes $6.4M Linked To Global Crime Syndicate, Cracks The Crypto Wallet Seedphrase

The post Australian Police Seizes $6.4M Linked To Global Crime Syndicate, Cracks The Crypto Wallet Seedphrase appeared first on Coinpedia Fintech News

The AFP seized up to $6.4 million or 9.3 million Australian dollars linked to the global crime syndicate. It arrested Jay Je Yoon Jung, the suspected mastermind behind the encrypted communication app enabling the criminal network Ghost. Charged with five offenses, including supporting a criminal organization, the accused faces a maximum of 26 years in jail. The arrest followed the success of a Criminal Assets Confiscation Taskforce (CACT) analyst in cracking the seed phrase from wallets discovered on Jung’s devices during a raid. The AFP then moved the looted funds into secure storage.