UK Police Seize $1.4M in Shuttered Darknet Market Bitcoin
Avon and Somerset Police in England have seized over $1 million worth of Bitcoin linked to darknet marketplaces that operated between 2016 and 2019. The police force's financial investigation unit, with help from its cyber team, traced the holdings to the now-shuttered markets.
The darknet sites facilitated crimes such as drug supply and people trafficking before being taken down. AlphaBay, the largest market at the time, was seized in July 2017, while Dream Market announced its closure in March 2019.
According to Detective Constable Anthony Davis, 'many people think cryptocurrencies place assets beyond the reach of law enforcement.' He pointed out that the permanent record on the blockchain serves as an invaluable source of evidence for investigators.