Australian Man Forfeits $2.5M in Bitcoin Without Charges After AFP Crypto Probe
A Queensland man has forfeited assets valued at over $2.9 million, including a mansion, a Mercedes-Benz, and nearly 25 BTC worth $2.6 million, following a court order. The investigation began after AUSTRAC received a tip from Luxembourg regarding suspicious Bitcoin transactions linked to him. The man, previously convicted of hacking a U.S. gaming company, is also connected to the 2013 theft of 950 Bitcoin from a French exchange. No charges were filed, but Australian law allows asset seizure related to criminal activity without a conviction. The Australian Federal Police’s Criminal Assets Confiscation Taskforce has been investigating crypto theft and cyber crimes since 2018 and has restrained $770 million in suspected criminal assets. The forfeited assets will fund community crime prevention programs.
