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    Australian Authorities Seize $1.5million In Cryptocurrency From Drug Dealers

    The Australian Border Force (ABF) has announced today that it has arrested a couple for allegedly transporting banned drug MDMA. It is understood from the report that after the arrest, the police force found $1.5 million worth of cryptocurrencies with the couples.

    Australian officials believe that this is the largest amount of cryptocurrencies confiscated by the authorities for a drug-related offense. The operation was a joint one by the Australian Federal Police and the WA Police Force regarding a series of suspected drug transportation scheme.

    The information gathered was used to track the suspected couple who were apprehended with 55g of MDMA tablets and powder. Police officials later discovered a small electronic device which is most likely a cold wallet that contained $1.5 million worth of cryptocurrencies.

    This was affirmed by the Officer in Charge of Drug & Firearm squad Paul Matthews who claimed that this was the largest confiscation of crypto assets for drug trafficking.

    He also alluded to the fact that criminals had begun to use the latest form of payments to beat authorities. ''The identification and freezing of over $1.5 million of cryptocurrency in these circumstances highlights the current digital environment in which law enforcement agencies must operate''
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