The Australian Federal Police (AFP) has announced a major asset seizure in connection with an international cybercrime investigation dating back over a decade.
On May 18, authorities revealed the confiscation of 25 Bitcoins, valued at approximately USD $2.62 million, as well as a luxurious seaside mansion and a Mercedes-Benz vehicle.
These assets, totaling AUD $4.5 million (about USD $2.88 million), were owned by a man residing in Queensland, Australia.
The seizure is part of an ongoing investigation into the 2013 hacking of a French cryptocurrency exchange that resulted in the theft of 950 BTC, an incident that remains one of the earliest major breaches in the crypto space.
Suspect Linked to 2013 French Exchange Hack and 2016 Gaming Breach
The Queensland man identified in connection with the seized assets is Shane Stephen Duffy, a figure previously known to law enforcement.
Duffy pleaded guilty in 2016 to separate cybercrime charges involving the hacking and sale of player data from the popular online game League of Legends.
While no new criminal charges have been filed against Duffy in this case, investigators believe that the assets in question may be the proceeds of the 2013 French crypto exchange hack.
The breach, which led to the theft of 950 BTC when the currency was still in its early years, has remained largely unresolved until recent breakthroughs in asset tracing and digital forensics.
Also Read: Arizona Passes Law To Seize Abandoned Crypto And Build Bitcoin Reserve
Authorities Leverage Proceeds of Crime Act to Confiscate Assets
In a strategic legal maneuver, the AFP employed the Proceeds of Crime Act to seize the suspect’s assets without requiring a new criminal conviction.
Through court-issued confiscation orders, the police were able to freeze and take control of the properties based on evidence suggesting a link to illicit activity.
The powerful legal tool allows authorities to act swiftly when there is substantial proof that assets may have been derived from criminal enterprises.
According to the AFP, this method has enabled the agency to freeze over AUD $1.2 billion (USD $770 million) in suspected criminal proceeds since 2019.
The incident reflects an increasingly aggressive stance against financial crimes and cyber-related offenses.
A Broader Crackdown on Cybercrime and Illicit Crypto Use
This latest seizure underscores Australia’s growing commitment to combating cybercrime and the misuse of digital assets.
Cryptocurrency, while offering decentralized financial freedom, has also become a tool exploited by hackers and money launderers.
The AFP’s action demonstrates a significant evolution in law enforcement’s ability to track and recover crypto-related assets across borders and over long periods of time.
With rising global cooperation in financial crime investigations and improved blockchain analytics, law enforcement agencies are becoming more adept at linking digital footprints to real-world suspects.
The Duffy case serves as both a warning to cybercriminals and a signal of advancing capabilities in crypto asset recovery.
Also Read: China Faces Dilemma Over Disposal Of Seized Crypto, Sells It Via Private Companies