Australia's Federal Police Seize $6.4M in Crypto from Criminal App Ghost
TL;DR
- Australia's Federal Police seized $6.4 million in cryptocurrency linked to the Ghost messaging app, which is alleged to facilitate criminal activities.
- The operation, named Kraken, led to the arrest of Jay Je Yoon Jung, the suspected creator of the app, while authorities clarified that the Kraken exchange is not involved in the investigation.
Australia's Federal Police (AFP) has taken decisive action by seizing $6.4 million in cryptocurrency as part of Operation Kraken. This global initiative targets the Ghost messaging app, which is believed to be designed for criminal activities. The AFP has assured the public that the cryptocurrency exchange Kraken is not implicated in this investigation.
The seizure occurred during a crackdown on Ghost, following the arrest of 32-year-old Jay Je Yoon Jung, who is suspected of being the app's creator. He appeared in court in Sydney to face multiple charges, along with another individual involved in distributing the application. The AFP plans to pursue the permanent forfeiture of the confiscated cryptocurrency.
Operation Kraken highlights the ongoing efforts by law enforcement agencies to combat illicit activities facilitated by encrypted communication tools. The AFP's actions reflect a growing trend among authorities worldwide to address the challenges posed by such technologies, which can obscure criminal behavior and hinder investigations.
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