Australian Police seize properties, $4.5M Bitcoin from exchange hack

After forfeiture, proceeds from the sale will go to authorities to support the investigation of cybercrime.

The Australian Federal Police (AFP) has seized Bitcoin and other assets worth $4.5 million from a man who allegedly stole to acquire these properties. The other assets include a beachside mansion and a luxury car worth millions of dollars.

The seizure followed an April 2025 court ruling by the District Court of Queensland, stemming from investigations by the AFP under the Criminal Assets Confiscation Taskforce (CACT).

The Criminal Assets Confiscation Taskforce is a joint Australian government initiative designed to locate, track, and recover stolen assets. It comprises the Australian Federal Police, AUSTRAC, and the Australian Taxation Office.

In 2018, Luxembourg authorities alerted officials about suspicious Bitcoin transactions linked to a Bitcoiner from Queensland. The same individual had previously been convicted of hacking a U.S.-based gaming company.

Further investigations revealed his involvement in another crime: the theft of approximately 950 Bitcoins from a French crypto exchange in 2013. At that time, Bitcoin’s value ranged from $100 to $1,000, making the stolen amount worth between $95,000 and $950,000.

Although there hasn’t been further evidence of the accused stealing the 950 Bitcoin, Australian authorities deemed it prudent to seize his alleged properties. This action is supported by Australian law, as the CACT received court approval to take possession of a waterfront home in Beachmere, a black 2019 Mercedes-Benz, and nearly 25 Bitcoin.

AFP Commander Jason Kennedy commented on the case, emphasizing how law enforcement is combating online crime. He noted that cybercriminals use profits from these illicit activities to continue their crimes.

Over the past six years, the CACT has frozen more than $1.2 billion in assets nationwide. Most of these assets include homes, cars, boats, cryptocurrency, artwork, and luxury goods.

In late August last year, the Australian Securities and Investment Commission (ASIC) revealed they had taken down over 7,300 websites linked to fraudulent activities. 

The ASIC stated that “investment scams remain the leading type of scam impacting Australians, resulting in $1.3 billion in losses in 2023.”
In October, the Australian Federal Police announced they had cracked the seed phrase of a crypto wallet linked to the creator of a criminal syndicate communication app called “Ghost.” This breakthrough led to the seizure of $6.4 million in cryptocurrency from the suspect.