British police seize record $408 million worth of crypto currencies

British police have seized a record 294 million pounds in cryptocurrencies as part of a money laundering investigation after organised crime gangs turned to cryptocurrencies to wash their “dirty money”.


London police said today they had seized 180 pounds in unspecified cryptocurrency, less than three weeks after 114 million worth of cryptos was seized on June 24th, in a money laundering investigation.


“While cash remains king in the criminal world as digital platforms evolve, we see more and more organised criminals using cryptocurrencies to launder dirty money,” said Graham McNulty, Metropolitan Police Deputy Assistant Commissioner.


“Today’s seizure is another milestone in this investigation, which will continue for months as we approach those at the centre of this suspected money laundering operation,” said Joe Ryan, Detective Constable.


Cryptocurrencies are anonymous and very easy to use and that is the reason why some of the larger organised crime groups are turning to them as a means of laundering money and staying one step ahead of the police, tax authorities and security forces.