The Australian Federal Police (AFP) Criminal Assets Confiscation Taskforce (CACT) has seized around $6.4 million (9.3 million Australian dollars) in cryptocurrency, following the identification of the seed phrase of a crypto wallet tied to the creator of Ghost, an encrypted communication app used for illicit activities.
A seed phrase, a set of random words that safeguard access to cryptocurrency, was reportedly “deciphered” by authorities. While the AFP described their success as “cracking” the wallet, it’s more likely that they accessed the private key via a device linked to the wallet, rather than breaking the encryption directly.
AFP Acting Commander Scott Raven praised the operation, noting it demonstrates the agency’s technical capabilities in targeting criminals hiding illicit profits in digital assets. The seizure is part of Operation Kraken, which focuses on dismantling criminal networks using the Ghost app. In August, the AFP seized $1.4 million in cryptocurrency and properties connected to the same investigation.
The operation has led to 46 arrests, 93 search warrants, and the confiscation of 30 illegal firearms. Authorities have also blocked more than 200 kilograms of drugs from entering Australia and seized over $2.37 million in cash.
Deddy Lavid, CEO of blockchain security firm Cyvers, emphasized the importance of real-time monitoring of crypto wallets, noting it can help law enforcement detect suspicious activity and prevent criminals from hiding or moving their assets.
Image Credit: Pixabay
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