Australian Federal Police (AFP) made a significant breakthrough in their fight against organized crime by decrypting a cryptocurrency wallet associated with the creator of the encrypted messaging app, "Ghost."

This app was allegedly designed for use by criminal networks, facilitating illicit activities like drug trafficking and money laundering.

The police were able to access a seed phrase that unlocked $6.4 million worth of crypto as part of "Operation Kraken."

This investigation targeted Jay Je Yoon Jung, the app’s developer, who was arrested in mid-September and faces several serious charges. If convicted, he could face up to 26 years in prison.

"Ghost" was reportedly sold to criminals on modified smartphones, with a six-month access package costing $1,600, and the AFP managed to infiltrate and gather intelligence from these devices.

This crypto seizure is one of the largest of its kind in Australia, following a $1.4 million confiscation in August. The AFP has indicated that the seized assets will be repurposed to aid future law enforcement efforts.

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