- Australian Federal Police (AFP) deciphered the stolen phrases and obtained $6.4 million in cryptocurrencies linked to the alleged criminal app creator.
- The seizure is part of Operation Kraken, which targets the encrypted messaging app Ghost, which is suspected of being used by organized crime.
- This was the second major asset seizure in this operation, highlighting the AFP’s enhanced capabilities against organized crime facilitated by digital tools.
Australian authorities have successfully “cracked” the code to access $6.4 million (A$9.3 million) in cryptocurrency links, making a major breakthrough in the fight against organized crime. to a suspect who ran an encrypted messaging app used by a criminal organization.
Australian Federal Police (AFP) announced On October 2, it was revealed that the Criminal Assets Confiscation Task Force (CACT) confiscated digital devices from the home of Jay Jae Yoon Jeong, the alleged creator of the encryption app Ghost. ” The app is believed to be designed to facilitate illegal activities such as drug trafficking, money laundering, and contract killings.
This is the second major seizure related to Operation Kraken, AFP’s initiative targeting users and creators of ghost apps. In August, authorities seized $1.4 million in virtual currency and property as part of a similar investigation. Acting Commander Scott Raven stressed that the AFP’s technological capabilities were more advanced than the criminals had anticipated.
“Whether you try to hide them in real estate, cryptocurrencies or cash, we will identify your ill-gotten goods and take them from you, leaving you with nothing.” said Commander Raven.
AFP claims that Jung developed Ghost specifically for criminal use. The app was sold through modified smartphones, offering six months of access and technical support for $1,600. Jung pushed out regular updates, but authorities were able to hack into the software and access content from the modified phones.
Virtual currency seizures and law enforcement efforts
The success of Operation Kraken goes beyond just seizing cryptocurrencies. CACT has made 46 arrests, executed 93 search warrants and intervened in 50 life threats. We also stopped over 200kg of illegal drugs from entering Australian roads, seized 30 firearms and seized $2.37 million in cash and $11.09 million in additional assets.
CACT was established in 2012 to bring together the expertise of various Australian law enforcement agencies, including the Australian Taxation Office, AUSTRAC and the Australian Law Enforcement Agency, to target criminals. border force. Since 2019, the task force has detained more than $1.1 billion in criminal assets, dealing a major blow to organized crime groups in Australia.
When assets from Operation Kraken are confiscated, they are held in a Confiscated Assets Account managed by the Australian Financial Safety Authority. The Attorney General would then redistribute these funds to support crime prevention and law enforcement efforts across the country.
As the investigation continues, AFP is confident that a combination of technical expertise and inter-agency cooperation will deter organized crime and ensure that crimes are brought to light. remains hidden.
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