Avon Police Seize Over £1 Million in Cryptocurrency
Avon and Somerset Police have seized over £1 million in cryptocurrency and cash assets under the Proceeds of Crime Act. The investigation, which involved tracing assets linked to darknet marketplaces operating between 2016 and 2019, resulted in the forfeiture of 20.21 Bitcoin and other crypto assets valued at £1,032,487.86.
The individual at the centre of the investigation had previously been convicted of money laundering offences and had since died. The police employed advanced cryptocurrency tracing techniques supported by the Cyber Team to track the assets. This marks the largest cryptocurrency asset seizure since the introduction of crypto wallet freezing orders in 2024.
According to Detective Constable Anthony Davis, many people believe that cryptocurrencies provide anonymity, but transactions are stored on a blockchain, making them a valuable source of evidence. The forfeited assets will be channelled into community and policing initiatives focused on education, training, and crime prevention.