In the announcement made by the Metropolitan Police on Tuesday, the British detectives have impounded around $250 million worth of crypto. The latest confiscation marked the biggest one of its kind in the history of the United Kingdom and one of the biggest seizures around the globe.

The Metropolitan Police Seized Significant Amount of Crypto

The recently reported cryptocurrency haul is a segment of an ongoing investigation into a long-lasting investigation regarding money laundering. 

Joe Ryan, a Detective Constable elaborated on the matter and described the confiscation as a notable landmark for the investigators in a statement that read:

“Today’s seizure is another significant landmark in this investigation which will continue for months to come as we hone in on those at the center of this suspected money laundering operation.”

Met Shares Press Release Mentioning Money Laundering 

Noting further on the matter, it was known that a woman of 39 years of age was indulged in an operation that involved money laundering and she was interviewed and investigated about the recent seizure following her arrest that took place on June 24.

In addition to this, it should be known that the detectives of the United Kingdom have seized over $160 million worth of cryptocurrencies in the month of June.

The confiscation was executed by the detectives from the Economic Crime Command of the Metropolitan Police based on the intelligence they acquired about the transfer of criminal assets in accordance with the press release issued by the Met, serving the police force of Greater London.

Though at that time, not all the details were revealed as the investigation was going on.

Graham McNulty, the Deputy Assistant Commissioner of Met released a statement that read:

“Cash remains king, but as technology and online platforms develop, some are moving to more sophisticated methods of laundering their profits.”