Met Police seize millions of pounds in Bitcoin

LONDON: Detectives investigating international money laundering have seized nearly £180 million of Bitcoin.

The seizure by the Metropolitan Police’s Economic Crime Command follows a confiscation of £114 million of the cryptocurrency in June. The two confiscations were made following intelligence received about the transfer of criminal assets.

One bitcoin is currently worth around £23,500, having fallen from a peak in April of £47,126.48, meaning the sum confiscated may have been worth nearly double three months ago. The assets were seized by the force’s Economic Crime Command and the investigation is continuing.

Detective Constable Joe Ryan said: “Less than a month ago we successfully seized £114 million in cryptocurrency. Our investigation since then has been complex and wide-ranging. We have worked hard to trace this money and identify the criminality it may be linked to.

“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.”