Children’s Toy Drug Bust Leads Police to $1 Million Crypto Seizure

Michael LaVere
  • Australian authorities seized more than $1 million in crypto following a children's toy drug bust.
  • An Australian couple attempted to transport MDMA hidden in a child's toy through international mail.

Ecstasy hidden in a child’s toy led Australian authorities to a record-breaking cryptocurrency seizure. 

According to a report by the Sydney Morning Herald, Western Australian (WA) authorities seized a record amount of cryptocurrency from a couple attempting to transport ecstasy hidden in a child’s toy painting kit. 

While screening international mail, Australian Border Force (ABF) officers found 27.5 grams of MDMA tablets and a similar amount of powder concealed inside the children’s toy. The report claims the package had been sent from the UK and was en route to the Perth metropolitan area. 

The ABF officers alerted federal and WA authorities, which led detectives from the meth transport team to raid a property in Marangaroo where they seized more than 1.5 million AUD (~1.03 million USD) in cryptoassets. 

A man and a woman were arrested and charged by authorities for their role in the drug operation. 

Detective Senior Sergeant Paul Matthews, who was in charge of the drug and firearm squad, said of the record-breaking seizure, 

While WA Police Force has seized millions of dollars worth of physical property and bank account assets in the course of several drug investigations, particularly those involving established criminal networks, the identification and freezing of over $1.5million of cryptocurrency in these circumstances highlights the current digital environment in which law enforcement agencies must operate.

Australian Border Force commander Rod O’Donnell said that his officers are awake to the “many creative methods” criminals are using to import drugs. 

Featured Image Credit: Photo via Pixabay.com

Luxury Cars and $15 Million in Crypto Seized in Chinese Arbitrage Scam Bust

Michael LaVere
  • Chinese authorities seized $15M in crypto and several supercars following scam ring bust.
  • The group was allegedly operating an arbitrage scam that promised users fake Huobi Tokens. 

Chinese authorities have reportedly seized more than $15 million in crypto-assets and $2 million in supercars after busting up an arbitrage scam selling counterfeit tokens. 

According to a report by China’s Ministry of Public Security, police in the city of Wenzhou arrested 10 individuals connected to operating a fraudulent cryptocurrency scheme. The report claims the arbitrage group was scamming victims using blockchain smart contracts to generate fake cryptocurrencies. 

Following the bust, authorities seized bitcoin, ether, and tether worth over 100 million yuan ($15 million). The report also claims police seized several supercars, including a Ferrari and a McLaren valued at more than $2 million, in addition to the luxury villa in which the scammers were staying. 

The arrested individuals had reportedly operated a smart contract scheme since 2019, which advertised a blockchain product that claimed to generate Huobi’s native token HT. Unsuspecting consumers were promised the tokens would generate arbitrage opportunities worth a return of up to 8%. 

One victim, identified as Li in the report, first notified police after joining a Telegram group belonging to the scam artists. 

Li told authorities, 

Simply put, you send one unit of ETH to a designated address, you will receive 60 HT. And then you can sell it to gain the difference.

Featured Image Credit: Photo via Pixabay.com