Cryptocurrency assets were seized after specialists from the Australian Federal Police (AFP) Analytics and Asset Confiscation Service were able to decipher seed phrases and gained access to hardware wallets found during a search. Law enforcement agencies did not specify which hardware wallets the suspect used.
It is reported that Jay Jae Yoon Jong was detained during a joint operation between the Australian police and the American FBI. The security forces managed to gain access to the encrypted communication platform Ghost.
According to law enforcement agencies, Yun Jong was the creator of the Ghost network, which served the interests of criminal groups. Through the platform, criminals were sold modified smartphones with a subscription to the encrypted Ghost network for $2,350 per device. Secure phones were used by several of Ireland and Australia’s biggest drug suppliers, intelligence agencies say.
Earlier, the Melbourne District Court sentenced a 31-year-old Australian man to two years in prison for identity theft and using false documents to register cryptocurrency accounts.
Source: Bits
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