Victoria Police seize $8.5 million worth of crypto linked to dark web drug syndicate

More than $8.5 million worth of cryptocurrency, linked to a dark web drug trafficking syndicate, has been seized in the largest bust of its kind in Australian history.

Victoria Police has seized $8.5 million worth of cryptocurrency linked to a dark web drug trafficking syndicate – the largest bust of its kind in Australian history.

A man and a woman have been arrested, and a total of $13.1 million in assets seized.

The criminal investigation began earlier this year following a tip off by the FBI.

Detectives from the force’s Criminal Proceeds Squad arrested a 31-year-old Kinglake woman and a 30-year-old Preston man on Thursday.

It’s understood the pair used Bitcoin to traffic drugs using the notorious Silk Road dark web platform which was shut down by the FBI in 2013.

Commander Mick Frewen from Victoria Police’s crime command described the pair were “unremarkable” people, and that being a keyboard criminal was now easier than ever before.

“The people subject to yesterday’s searches weren’t known to police so the accessibility of ill-gotten gains through criminal activity via the dark net are all but a keyboard away,” he said.

“Anyone now via the dark web has the ability to syndicate money laundering, whether you are part of a larger criminal organisation or a single entity. They’re reach and ability to learn illegal wealth is the same.”

Six properties including in Kinglake, Preston, Prahran, Dollar and South Yarra were raided as part of the investigation.

Victoria Police has seized $8.5 million worth of cryptocurrency linked to a dark web drug trafficking syndicate.

The woman was charged with possessing cannabis and was bailed to appear at Seymour Magistrates’ Court next year.

A third man, aged 33, was also arrested at the Preston address and has been cautioned for possessing cannabis.

Drugs including cannabis, Psilocin (magic mushrooms), MDMA, prescription medication and white powder and crystals were seized during the statewide raids.

Police also restrained two properties in Kinglake and Dollar valued at about $2 million, approximately $2.6 million cash and vehicles including a Toyota Prado and VW T-Cross valued at about $100,000.

Commander Frewen said the FBI gave them key evidence which led to the arrests and that investigators are working to determine the extent of the alleged drug offending.

“This is the 21st century version of drug trafficking and money laundering, with criminal using technology to enable immense amounts of community harm and misery,” he said.

“There may be a perception that trafficking drugs online is a ‘safer’ option or one less likely to lead to detection due to relative anonymity, however this result highlights that this is absolutely not the case.

“We make no apology for targeting those involved in the manufacture and trafficking of illicit drugs and holding them to account.

“This result is also strongly demonstrates the importance of asset confiscation and ensuring that those involved in serious and organised crime do not retain any benefits from their criminal activity.

“It’s about depriving offenders of resources to commit future harm and serves as a warning that people are not only risking jail sentences if they are caught, but the loss of everything they have built up due to their criminal activity.”

The investigation remains ongoing.

Anyone with information is urged to contact Crime Stoppers on 1800 333 000 or

submit a confidential crime report at www.crimestoppersvic.com.au