The Australian Federal Police announced the detention of the participants of the network deployed in the state of the Network, washing about $ 123 million through digital assets.

To convert cash into digital assets, the creators of the scheme used as cover a security company, law enforcement agencies said. According to them, the participants in the scheme used fake documents and accounts to present convertible funds as legal income of the company.

The mechanism worked as follows: cash received from illegal activities, including cybercrime and drug trafficking, were encouraged, and then transferred through bank accounts related to the security company. After the funds, they were converted into cryptocurrency, which allowed to hide their origin, and then distributed between the beneficiaries and forthcoming companies.

In the course of 14 searches in Brisben and Gold Cost, the Australian police discovered 17 real estate objects and vehicles belonging to the suspect, and also froze more than $ 13 million on the accounts of detainees.

Earlier, the Australian Report and Analysis Center (Austrac) obliged the Australian cryptomat operators to limit the introduction and withdrawal of cash for the amount of more than 5,000 Australian dollars (about $ 3250).