Ghost

Raven

DeFi

Planet

<div class="intro-text">
 The Australian Federal Police (AFP) <a href="https://www.afp.gov.au/news-centre/media-release/operation-kraken-afp-restrains-93-million-crypto-linked-alleged-head" rel="noopener noreferrer nofollow">announced</a> they had successfully “deciphered” a seed phrase granting access to $6.4 million (9.3 million Australian dollars) worth of cryptocurrencies linked to a suspect.
</div>
The individual, Jay Je Yoon Jung, is accused of creating an encrypted messaging app, “Ghost,” reportedly used by organised crime networks. On October 2, the AFP revealed that the funds were seized after a Criminal Assets Confiscation Taskforce (CACT) analyst cracked the seed phrase during a forensic examination of digital devices recovered from Jung’s residence.
<blockquote>
 “This allowed the AFP to access the cryptocurrency to be transferred into secure AFP cryptocurrency storage,” 
</blockquote>
the agency said.
The AFP stated that the seized cryptocurrency will be transferred to the government “in due course” and may later be used to fund law enforcement initiatives.&nbsp;
AFP Acting Commander Scott Raven emphasised, 
<blockquote>
 “Whether hidden in real estate, cryptocurrency, or cash, we will find your ill-gotten gains and confiscate them, leaving you with nothing.”
</blockquote>
The AFP noted that Jung was arrested on September 17 and charged with five offences, including supporting a criminal organisation, facing a potential 26-year prison sentence.&nbsp;
According to the AFP, Jung created the Ghost app specifically for criminal activities such as drug trafficking, money laundering, and contract killings. Modified smartphones, including six months of access to the app and tech support, were sold for around $1,600. The AFP also revealed that Jung consistently updated the app, but authorities managed to infiltrate the software and access the content on the modified devices.
The AFP has been actively involved in investigating a large-scale cryptocurrency phishing operation that compromised over 2,000 Australian digital wallets. In August 2024, Detective Superintendent Tim Stainton <a href="https://defi-planet.com/2024/08/australian-police-launches-probe-into-crypto-phishing-scam-affecting-2000-wallets-following-chainalysiss-operation/" rel="noopener noreferrer nofollow">highlighted</a> the importance of intelligence from Operation Spincaster, a probe by Chainalysis, which uncovered widespread “approval phishing” attacks across six countries, including Australia. Stainton emphasised that the findings revealed new cybercriminal tactics, aiding efforts to identify victims and disrupt illegal activities in the country.
&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/10/australian-police-claims-to-have-cracked-seed-phrase-to-access-suspects-crypto/" rel="noopener noreferrer nofollow">Australian Police Claims to Have “Cracked” Seed Phrase to Access Suspect’s Crypto</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Australian Police Claims to Have “Cracked” Seed Phrase to Access Suspect’s Crypto

DeFi Planet

Other articles published on Oct 2, 2024

Skip PEPE And WIF Here’s The Major Breakthrough Altcoin For Maximum Returns On Investment

Does XRP ETF Have a Chance? Bloomberg Analyst Says "Yes!", Explains Event That Could Change the F...

Binance Temporarily Halts Deposits and Withdrawals During Cosmos Network Upgrade

Whales Keep Dogecoin Active Despite Price Drop

New ride-hailing app, Drop promise to priotise drivers’ welfare: offers 10% commission and users ...

Qubetics dVPN delivers a Decentralized Solution for Internet Privacy and Security. Secure Your Sp...

Join our free newsletter for daily crypto updates!