UK Police Seize Cryptocurrency Worth Almost $160M in Money Laundering Probe

The seizure was made based on intel regarding the transfer of criminal assets, a statement from the police read.

Jun 24, 2021 at 7:35 p.m. UTC

Updated Sep 14, 2021 at 1:16 p.m. UTC

Detectives investigating money laundering in the U.K. seized £114 million (US$158.8 million) in cryptocurrency, the largest seizure of crypto ever in the U.K. and one of the largest in the world.

The seizure was carried out by detectives from the Metropolitan Police's Economic Crime Command based on intelligence received about the transfer of criminal assets, according to a press release issued by the Met, which serves as the police force of Greater London, excluding the City of London.
The investigation is ongoing, the Met statement said. Further details weren't immediately available.
"Cash remains king, but as technology and online platforms develop, some are moving to more sophisticated methods of laundering their profits," Met Deputy Assistant Commissioner Graham McNulty said in the statement.

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