#Australia Busts $123M #Crypto Laundering Ring Hidden Behind Security Company


Australian authorities have charged four individuals in an 18-month investigation into a $123 million crypto laundering operation.


The scheme used a cash-in-transit security company as a front to launder criminal proceeds into cryptocurrency.


Police froze $13.6 million in suspected criminal assets across Queensland and New South Wales.


One suspect allegedly laundered $9.5 million over 15 months through a complex laundering network.


The operation blended clean business earnings with illicit cash before funneling funds through multiple fronts.


Authorities seized 17 properties, vehicles, and multiple bank accounts during the raids. The laundered funds were distributed to beneficiaries in #cryptocurrency or through front businesses.


Over $100 billion in crypto flowed from illicit #wallets to conversion services between 2019 and mid-2024.


Physical threats related to #crypto crimes are increasing, including recent kidnapping cases involving industry leaders.

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June 09, 2025 at 7:00 PM
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