Australia dismantles crime syndicate that moved nearly $1B in crypto
Australian police have arrested 28 people in a coordinated crackdown against one of Australia’s largest crime syndicates, which has allegedly moved AU$1.5 billion ($978 million) in cryptocurrency over the past year. The gang, which reportedly originates from Lebanon, has allegedly also moved AU$1 billion ($652 million) in drugs, firearms, and tobacco. New South Wales (NSW) police investigating the syndicate began arresting suspects on Sunday. Over the course of two days, 450 officers carried out 37 search warrants and made 24 arrests. Police have so far seized 25 firearms, AU$2 million ($1.3 million) in Crypto currency , almost AU$1.5 million ($980,000) in cash, more than AU$3 million ($1.9 million) worth of luxury watches, a Lamborghini, and 60 dedicated encrypted criminal communications (DECCD). Police also seized two tonnes of illicit drugs and precursor drugs worth over AU$130 million ($85 million). The syndicate ’s demise was announced during a press event on Wedn...