- Australian police seize bitcoins, mansion, and car from Queensland cybercriminal.
- Operation Gouldian links illicit Bitcoin transactions to hacker in Queensland.
- Queensland hacker jailed 2.5 years for cyberattacks on gaming company.
In a major crackdown on cybercrime, Australian authorities have seized Bitcoin and luxury property from a man linked to serious hacking offenses. Nearly 25 bitcoins, a valuable car and a mansion in Beachmere, Queensland, were confiscated by the Australian Federal Police (AFP). Police believe that these assets, valued at around $2.88 million (AUD$4.5 million), came from crimes.
Operation Gouldian Targets Illicit Bitcoin Linked to Queensland Hacker
Authorities seized the items as part of an investigation handled by the Criminal Assets Confiscation Taskforce (CACT) which has completed Operation Gouldian. AUSTRAC learned about the unusual Bitcoin transactions in Luxembourg and started the investigation at the end of 2018. As a result, the investigators linked the digital currency to a person in Queensland who has previously committed cybercrimes.
The investigation discovered that the individual had hacked a popular American gaming company before. He is being investigated further for possibly stealing 950 bitcoins from an exchange in France in 2013. Even though no crimes were brought up against him in Australia, the assets were taken by the AFP based on laws for proceeds crimes. The authorities can take and freeze assets when it is certain the income comes from illegal activities.
Last month, a restraining order was put on his house on Lake Erie, his black 2019 Mercedes, and whatever cryptocurrency he still held. The man did not have a lawful source of income that would explain how he gained his wealth. For this reason, the Commonwealth government ended up taking ownership of the assets.
According to AFP Commander Jason Kennedy, driving financial losses to criminals is a key focus of the agency’s work. He said that most cybercrimes are committed mainly for financial rewards. This money is commonly used to carry out other crimes as well. Consequently, the AFP strives to join forces with domestic and international groups to return these assets and let them benefit the community.
Queensland Hacker Jailed for 2.5 Years Over Cybercrime and Game Attacks
The AFP’s CACT has been highly active in recent years. Since 2019, the agency has taken control of over $1.2 billion in assets. Apart from houses and luxury vehicles, they buy artwork, designer items and different digital goods.
Other sources say that in 2013, the suspect made more than $32,000 by selling inactive accounts used in League of Legends. It is claimed that he used unauthorized access to the account of Marc Merrill, the President at Riot Games, to advertise illegal activities. He is said to have interfered in internet games along with a hacker by disconnecting people who were playing. The company incurred huge losses during this period.
The hacker was sentenced to serve two and a half years in prison after pleading guilty at the Brisbane District Court in 2016. Australian authorities are still working to catch cybercriminals and recover the money they take illegally.
Overall, this shows cybercriminals what can happen if they break the law. While there are opportunities available from technology, exploiting it can mean facing charges and losing anything you gained unfairly.
The post Australian Authorities Seize Hacker’s Bitcoin, Mansion, and Luxury Car appeared first on Live Bitcoin News.