According to Whale Alert, about 44,000 BTC recently moved out of multiple addresses on Bittrex exchange into an unknown wallet.
The Bitcoin moved were totaled to be 43,564.383 BTC, which is equivalent to US$313,074,140 at press time. The said transaction was initiated on Wednesday, 4th December 2019 at 09:13:06 (UTC). The movement, however, did not have any effect on the price of Bitcoin in the cryptocurrency market.
At the moment, Bitcoin is trading at $7,264. As well, 1,307 Bitcoin was also moved from Coinbase to an unknown wallet.
Western Australian Police Nab Drug Dealers, Seize A$1.5 M Worth of Digital Assets
The Western Australian Police Force’s Drug and Firearm Squad have reportedly nabbed a couple that allegedly deals in illicit drugs, seizing a sum of A$1.5 million (US$1.04 million) in cryptocurrency.
The news first appeared on an Australian news outlet. According to the update, the alleged drug dealers ordered for MDMA and Ecstasy through mail.
Highest Value Seizure in Western Australia
Going by the report made available by the Western Australian Drug and Firearm Squad, this is the highest value seizure made in Western Australia. The squad also sent stern warning to other criminals, reiterating that none of them can escape the agency’s clampdown with the notion of hiding their drug dealing profits in digital currency.
The officer in charge of the Drug and Firearm Squad, Detective Senior Sergeant, Paul Matthews, described the mechanism applied in the successful operation, which led to the arrest of the drug-dealing criminals and the seizure of the whopping sum of money.
How the Illicit Drugs Were Discovered
The update furthered that the Australian Border Force discovered 27.5g each of Ecstasy tablets and MDMA powder in a usual mail screening on 31st October 2019. The drugs were allegedly hidden in a toy painting kit sent to the couple from the United Kingdom
In another statement, the Detective Senior Sergeant, Paul Matthews, averred the awareness of Police regarding the transaction of funds using cryptocurrency and other forms in exchange for illicit drugs.
He said millions of dollars’ worth of physical assets and bank accounts linked to illicit drug deals have been seized and frozen by the Police Squad in charge of such operation.
He pointed out that this record seizure of 1.5 million Australian Dollars indicates the more complicated digital environment where the law enforcers must take up responsibility.
The apprehended couple were reportedly refused bail. They are now prepared to appear the third time in the court at Joondalup Magistrates Court on Wednesday 4rd December 2019.