London police seize cryptocurrency worth £180m in largest-ever UK raid

Police in London have seized cryptocurrency worth nearly £180m in the UK’s largest-ever raid of crypto assets.

The Metropolitan Police said detectives from its Economic Crime Command made the seizure in relation to a money laundering case.

It follows on from another seizure of £114m in crypto assets last month. The Met said it arrested a 39-year-old woman on suspicion of money laundering offences on 24 June. She was later released on bail.

READ London police seize £114m in cryptos amid money laundering investigation

The same woman was interviewed under caution in relation to the seizure of the nearly £180m worth of cryptocurrency on 10 July. She has been bailed to a date in late July.

The £180m seizure breaks the record which was previously set by the Met’s £114m case, and is thought to be one of the largest confiscations globally.

READ Police crack down on illegal crypto mine in West Midlands raid

The seizures were made by detectives from the Met’s Economic Crime Command on the back of intelligence received about the transfer of criminal assets. They form part of an ongoing investigation into international money laundering.

“Less than a month ago we successfully seized £114m in cryptocurrency. Our investigation since then has been complex and wide-ranging,” detective constable Joe Ryan said. 

“We have worked hard to trace this money and identify the criminality it may be linked to,” he added.

“The detectives on this case have worked tirelessly and meticulously to trace millions of pounds worth of cryptocurrency suspected of being linked to criminality and now being laundered to hide the trail,” said deputy assistant commissioner Graham McNulty. 

“Those linked to this money are clearly working hard to hide it. Our investigation will stop at nothing to disrupt the transfer and identify those involved,” McNulty added.

To contact the author of this story with feedback or news, email James Booth

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