According to ChainCatcher, a MailOnline investigation reveals that British authorities have frozen illegal crypto assets worth approximately $7.7 million (£6 million) since April 2024.

Last year, the UK revised relevant rules, granting the National Crime Agency (NCA) and police special powers to freeze, seize, and destroy cryptocurrencies related to crime and criminals. These powers allow law enforcement to freeze crypto wallets for up to three years. If courts are convinced that the funds originate from illegal sources or will be used for criminal purposes, officials can also seize these assets. These special powers also enable law enforcement to seize any crypto wallets suspected of being associated with criminal organizations without making an arrest. Authorities have been granted the power to destroy seized crypto assets if they believe reintroducing them into circulation would be "contrary to public interest". This may include privacy coins often used by criminals to obscure fund sources.

According to court documents analyzed by MailOnline, the largest freezing order was issued for a wallet hosted on Coinbase. The wallet contained tokens worth $1.94 million (£1.5 million). The freezing order was issued by Newcastle Crown Court on March 18. The court order was requested by HM Revenue and Customs (HMRC), indicating the case may be related to tax evasion. The identity of the wallet owner remains unknown.