#Cybercrime Squad Seizes $5.7 Million in Cryptocurrency in Darknet Investigation

A 15-month investigation leads to one of the biggest cryptocurrency seizures in the nation's history.

#Investigation Details

Detectives from the Cybercrime Squad have seized $5.7 million worth of cryptocurrency after a 15-month investigation into alleged illegal darknet market dealings. The investigation, led by Strike Force Andalusia, was established in September 2024 to probe a large amount of bitcoin held in a cryptocurrency wallet believed to be proceeds of illegal activity on darknet marketplaces.

#Identifying Suspects and Seizing Assets

Following extensive inquiries, detectives identified two men, aged 41 and 39, who allegedly had access to the cryptocurrency wallet. On May 27, 2025, a search warrant was executed at a home in Surfside, where police seized several electronic devices and about 7.2 grams of cocaine. Forensic analysis of the devices uncovered and seized $47,000 worth of cryptocurrency.

#Charges and Arrests

A 39-year-old man was arrested and charged with multiple offenses, including:

• Failing to comply with a digital evidence access order direction
• Dealing with property proceeds of crime over $5,000,000
• Supplying prohibited drugs

He appeared at Batemans Bay Local Court and is next due to appear on June 15, 2026.

#Further Charges and Seizures

Further inquiries led detectives to charge a 41-year-old man with dealing with property proceeds of crime over $100,000 for his alleged involvement in the transferral of the cryptocurrency. The matter is before Campbeltown Local Court, with the man next due to appear on May 13, 2026.

#Major Seizure

On May 4, 2026, detectives executed a search warrant in Ingleburn, seizing electronic devices that allegedly uncovered 52.3 bitcoin, valued at approximately $5.7 million, believed to be the proceeds of illegal darknet activity.

#Statement from Detective Superintendent

Commander of State Crime Command’s Cybercrime Squad, Detective Superintendent Matt Craft, said the seizure demonstrates the squad’s ability to track criminal activity across complex online environments.

This is a significant seizure: It shows that criminal activity on the darknet is not anonymous.

Ongoing efforts: Our detectives are actively targeting those who use darknet marketplaces to trade illicit goods or launder money.

#Ongoing Inquiries

Inquiries under Strike Force Andalusia are ongoing.