Australian Authorities Seize $6.4 Million in Crypto in Major Crackdown on Ghost Messaging App

Australian Police have seized $6.4 million in cryptocurrency during a global crackdown on Ghost, a secret messaging network, which authoritiesclaimedwas solely created for criminal use.

The encrypted network allowed people in the criminal world to communicate securely, making it difficult to track them. Investigators allege that Ghost was designed to conceal illegal activities such as drug trafficking and money laundering.

Global Crackdown on Ghost Network: Australian Authorities Seize $6.4M in Cryptocurrency

The seizure of $6.4 million in cryptocurrency was part of a broader international effort to shut down Ghost and disrupt its operations. Global law enforcement agencies have been working to target this network and its users.

The crypto asset confiscation came just two weeks after the Australian Federal Police (AFP) arrested Jay Je Yoon Jung, a 32-year-old resident of Sydney. Authorities believe he is the mastermind behind Ghost, the encrypted communication network criminals use.

The police took Jung into custody and brought him to court in Sydney to face multiple charges, including money laundering.

In addition to Jung, authorities have also arrested another man who allegedly helped distribute the Ghost app. Investigators believe this second suspect played a role in getting the app into the hands of criminals.

Therefore, both arrests were part of a global effort to remove the Ghost network and target those who benefit from it. Authorities are determined to shut down the criminal use of encrypted apps like Ghost and to hold those responsible accountable.

Authorities have moved the seized crypto funds into a secure storage system designed for handling digital assets. This move ensures that the funds remain safely stored and that no one can access or tamper with them.

They are now working towards permanently taking ownership of this cryptocurrency and plan to seek a legal ruling for its permanent forfeiture, making the funds unavailable to those individuals.

The goal is to disrupt criminal networks' operations and strip them of the financial resources they rely on.

Operation Kraken: Major Crackdown on Ghost Network Causes Confusion with Unrelated Crypto Exchange

Authorities named the operation targeting the Ghost network Operation Kraken." However, the AFP has clarified that the name has no connection to the US-based crypto exchange Kraken.

An AFP spokesperson emailed CoinDesk to confirm that the crypto exchange Kraken is not involved in any part of the investigation. Instead, Operation Kraken focuses on encrypted communication platforms used by criminals.

A spokesperson from Kraken, the cryptocurrency exchange, expressed disappointment with the codename Operation Kraken." They emphasized that the operation has no connection to their brand, confusing and misleading the name.

Last month, during the crackdown, the Australian Federal Police took significant action. Around 700 officers executed 93 search warrants and arrested 46 people in various locations.

The operation also directly impacted safety, as the AFP intervened in 50 life-threatening situations. Additionally, the Police seized 30 illegal weapons and a significant amount of drugs, about 200kg of illicit substances.

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