• AFP has seized a massive $9.5 million from Ghost app mastermind.
• An analytics special cracked the “seed phrase” of the mastermind’s wallet.
• AFP acting Commander said that the agency will always be one step ahead of criminals.

The Australian Federal Police (AFP) seized $9.5 million in digital assets from the alleged mastermind behind an organized crime application called Ghost. The AFP-led Criminal Assets Confiscation Taskforce (CACT) arrested the 32-year-old suspect in Narwee, Australia, on September 17th.

According to a press release from AFP, the alleged mastermind was arrested and charged with supporting a criminal organization. An analytics specialist within the AFP-led CACT cracked the suspect’s “seed phrase” after analyzing devices found in the Narwee resident’s home. This allowed authorities to seize the $9.5 million in cryptocurrency.

The seized cryptocurrency was transferred to a secure AFP account under the Commonwealth Proceeds of Crime Act 2002. The arrest and seizure are part of Operation Kraken.

AFP acting Commander Scott Raven warned organized crime syndicates using cryptocurrencies to hide their income from such activities. He sa…

The post Australian Police Crack Seed Phrase, Seize $9.5M in Crypto appeared first on Coin Edition.

• AFP has seized a massive $9.5 million from Ghost app mastermind.
• An analytics special cracked the “seed phrase” of the mastermind’s wallet.
• AFP acting Commander said that the agency will always be one step ahead of criminals.

The Australian Federal Police (AFP) seized $9.5 million in digital assets from the alleged mastermind behind an organized crime application called Ghost. The AFP-led Criminal Assets Confiscation Taskforce (CACT) arrested the 32-year-old suspect in Narwee, Australia, on September 17th.

According to a press release from AFP, the alleged mastermind was arrested and charged with supporting a criminal organization. An analytics specialist within the AFP-led CACT cracked the suspect’s “seed phrase” after analyzing devices found in the Narwee resident’s home. This allowed authorities to seize the $9.5 million in cryptocurrency.

The seized cryptocurrency was transferred to a secure AFP account under the Commonwealth Proceeds of Crime Act 2002. The arrest and seizure are part of Operation Kraken.

AFP acting Commander Scott Raven warned organized crime syndicates using cryptocurrencies to hide their income from such activities. He sa…

The post Australian Police Crack Seed Phrase, Seize $9.5M in Crypto appeared first on Coin Edition.