ChainCatcher news, the Australian Federal Police (AFP) said on Tuesday that it had seized $6.4 million worth of cryptocurrency as part of an investigation into the masterminds behind Ghost, an encrypted communication application used by organized crime groups.
Suspect Jay Je Yoon Jung, 32, from New South Wales, was arrested on September 17 in "Operation Kraken" and now faces multiple charges, including supporting a criminal organisation.
Authorities will move the seized funds into secure storage. The assets will be subject to restrictions under the Proceeds of Crime Act 2002, a federal law designed to disrupt criminal networks by confiscating illicit property.
