The Australian Federal Police (AFP) recently conducted a special law enforcement operation that led to the seizure of $6.4 million in cryptocurrency linked to the alleged mastermind behind an organized crime app. Jay Je Yoon Jung, the 32-year old suspect, was arrested for creating Ghost, an encrypted communication platform reportedly used for illegal activities like drug trafficking, money laundering, and orchestrating murders.
The arrest was made following an investigation by the AFP’s Operation Kraken. Upon analyzing the devices recovered during Jung’s arrest, the Criminal Assets Confiscation Taskforce (CACT) managed to access the crypto assets by deciphering Jung’s seed phrase. This enabled the authorities to transfer the funds into an AFP wallet successfully.
AFP acting Commander Scott Raven emphasized the significance of this operation, stating, “The restraint of these assets shows the technical capabilities and powers that the AFP, and our partners through the CACT, are able to bring to bear on organized crime. Whether you have tried to hide them in real estate, cryptocurrency, or cash, we will identify your ill-gotten goods and take them away from you, leaving you with nothing.”
Investigations are ongoing, and the CACT intends to pursue the forfeiture of the restrained assets to the Commonwealth. This development underscores the AFP’s commitment to combating organized crime and holding perpetrators accountable for their actions.
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The AFP’s successful operation highlights the importance of collaboration between law enforcement agencies and the utilization of advanced technology to combat criminal activities in the digital age. As investigations continue, authorities remain vigilant in their efforts to dismantle organized crime networks and protect the community from harm.
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