Police in London have announced that they have made the largest cryptocurrency seizure in the UK, worth over 130 million euros.
Detectives specializing in money laundering investigations represented a value of 114 million pounds (132.7 million euros) and which the police “One of the world’s largest seizures“.
He said that the operation was launched on the basis of information received on transfer of criminal property.
“Cash remains king, but as technology and online platforms evolve, some are adopting more sophisticated ways to slash their profits. But we have highly trained agents and special units working day and night to stay one step ahead.“Assistant Deputy Commissioner Graham McNulty said in a statement Thursday evening.
In 2020-2021, London Police seized more than £47 million (about 55 million euros) from criminals.
Cryptocurrencies like bitcoin are regularly criticized by regulators for their illegal use because of the anonymity they allow as well as their ease of use.
According to a report by Chainalysis in February, cryptocurrency transactions for illicit purposes reached $10 billion in 2020, or 1% of total cryptocurrency activity last year and half as compared to a year ago. When these activities reached a record high of $21.4 billion.
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