NSW Police Seizes 52.3 Bitcoin Valued at AU$5.7M in Alleged Darknet Bust on May 4

According to NSW Police, authorities seized 52.3 Bitcoin valued at approximately AU$5.7 million during a raid in Ingleburn, Sydney's south-west on May 4, in what police describe as one of Australia's largest cryptocurrency seizures. The operation was part of Strike Force Andalusia, an investigation launched in September 2024 into alleged darknet marketplace activity linked to prohibited drug sales.

Two men were charged following the investigation: a 39-year-old Ingleburn resident faced charges of dealing with proceeds of crime exceeding AU$5 million, supplying prohibited drugs, and failing to comply with a digital evidence access order; a 41-year-old man was charged over an alleged cryptocurrency transfer exceeding AU$100,000. Both matters remain before the courts. Police used blockchain tracing and digital forensics to connect cryptocurrency transactions to suspects.