Australian police have arrested four individuals linked to a staggering $123 million crypto money laundering scheme. The operation, centered on the Gold Coast, marks one of the country’s largest crypto-related busts. Raids on a local firm uncovered a sophisticated network using fake businesses to funnel illicit funds.
Four Nabbed in $123M Crypto Crime
The scheme unraveled after AUSTRAC, Australia’s financial intelligence agency, flagged suspicious transactions tied to a Gold Coast company. Authorities allege the group used sham businesses to launder millions through digital currency, cash, and property. Raids led to the seizure of digital assets, luxury goods, and cash, with the suspects now facing charges.
AUSTRAC reported that it traced some funds to international crime networks, highlighting the global reach of such schemes. The country has ramped up its fight against crypto crime, with authorities introducing strict controls like $5,000 transaction limits on crypto ATMs to curb scams and laundering. The government views digital currencies as a growing risk, with AFP Commander Jason Kennedy emphasizing powers under the Proceeds of Crime Act to seize assets without convictions, signaling a tough stance on cybercrime.
The Surge of Crypto Crimes
The latest bust is reportedly not a one-off incident. For example, in May 2025, the Australian Federal Police seized $4.5 million in assets, including 25 Bitcoins, from a Queensland man linked to a 2013 theft of 950 BTC from a French exchange. No charges were filed, but civil forfeiture laws allowed asset seizure.
Last year, the AFP restrained $6 million in crypto tied to an encrypted platform called Ghost and $330,000 linked to a Gold Coast laundering ring. Globally, crypto crime rates are surging. French police recently rescued the kidnapped father of a crypto entrepreneur, and in the U.S., a $243 million Bitcoin heist involved violent abductions. These cases show how crypto’s anonymity attracts criminals worldwide.
Australia’s latest crypto bust highlights an urgent need for stronger defences against digital crime, with plans likely to include investing seized funds into crime prevention and law enforcement programs to disrupt financial crime networks.
