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U.K. Police Seize $250 Million Worth of Crypto

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Tue, 07/13/2021 - 06:23
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Alex Dovbnya
The Metropolitan Police have announced the U.K.’s biggest seizure of cryptocurrencies to date
U.K. Police Seize $250 Million Worth of Crypto
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British detectives have confiscated £180 million (roughly $250 million) worth of cryptocurrency, the Metropolitan Police announced Tuesday.   

This is the biggest seizure of its kind in the history of the U.K. and one of the biggest seizures around the globe. 

The $250 million cryptocurrency haul is part of a long-lasting money-laundering investigation.

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Detective Constable Joe Ryan described the seizure as a “significant landmark” for investigators in a statement: 

Today’s 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.

A 39-year-old woman involved in the money-laundering operation was interviewed about the recent confiscation after her arrest that took place on June 24. 

The U.K. police also seized $160 million worth of crypto in late June.

It's not clear which individual cryptocurrencies got confiscated. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.