UK police seize $1.4M in crypto from darknet markets

UK police seized 20.21 Bitcoin and other assets worth $1.4M from a deceased money launderer, tracing them to darknet markets active from 2016–2019. It is the force’s largest crypto seizure to date.

Avon and Somerset Police have seized 20.21 Bitcoin, other cryptocurrencies, and bank account funds totaling $1.4 million (£1,032,487.86) from a deceased individual previously convicted of money laundering. This marks the force's largest crypto seizure since the introduction of crypto wallet freezing orders in April 2024. Investigators, supported by the cyber team, traced the assets to darknet marketplaces active between 2016 and 2019, which were later shut down by law enforcement. These platforms were linked to crimes such as drug supply and human trafficking. The assets were confiscated under the Proceeds of Crime Act after a court determined they were proceeds of illegal activity. The recovered funds will be allocated to community and policing projects. The case highlights that blockchain transactions remain traceable for years, emphasizing the difference between pseudonymity and true anonymity in cryptocurrency use.