Aussie Police Arrest 55 in Latest Phase of Criminal Ring, Seize $37.9M in Crypto

South Australia Police has filed 800 charges and made 55 arrests in connection with a massive cryptocurrency-linked crime ring. The latest move is the third phase of Operation Ironside, a joint Australian Federal Police and FBI investigation.According to ABC News, authorities have seized crypto assets worth around AU$58 million ($37.9 million) tied to the probe.The FBI had built an app dubbed AN0M to interpret criminal communications secretly. Using the encrypted messaging app, the authorities tracked down illicit communications related to drug smuggling and crypto transactions.The new phase was launched after the High Court approved the use of AN0M messages as evidence.Deputy Police Commissioner Linda Williams said that the move is a “significant blow to organized crime across South Australia.”She called the arrests “unprecedented,” adding that 300 police officers were involved in several raids.“I think you can anticipate more arrests, but probably not at the [tempo] that you have seen today,” she added.FBI Used AN0M to Track Crypto-Related CrimesThe Federal Bureau of Investigation (FBI) installed AN0M on modified phones that lack cameras, GPS, or browsers, designed to appeal to criminals seeking secure communication for illicit activities. The application was allegedly hidden in each phone’s calculator.The FBI worked with the Australian Federal Police, who “developed a world-first capability to unscramble encrypted communications.” Together, they secretly captured all data sent between devices using the platform, the ABC report read.The AN0M app included features like self-expiring messages, the ability to take and send photos, voice alteration and file storage.Soon, hundreds of criminals were arrested as part of Operation Ironside in Australia. Per the Australian Federal Police, almost 1,000 suspects had been arrested around the world, with weapons and money laundering involving crypto.“This is a really strong deterrent message to organised criminals operating in South Australia,” said Deputy Commissioner Williams. “We have been able to leverage the intelligence from the encrypted AN0M app to bring this to a successful resolution.”Crypto Crime Investigations Places ‘Burgen’ on Enforcement Agencies: EuropolRecently, Europol warned that the misuse of crypto for criminal use is “becoming increasingly sophisticated.” In a report released last week, the law enforcement agency noted that the growing sophistication of criminal tactics poses risks to the crypto sector and scam victims at large.“The misuse of crypto and blockchain technology for criminal purposes is becoming increasingly sophisticated, complex and organized,” said Burkhard Mühl, Head of Europol’s European Financial and Economic Crime Centre.As a result, investigating these crypto-linked crimes has become a “burden” for agencies worldwide, he added.The post Aussie Police Arrest 55 in Latest Phase of Criminal Ring, Seize $37.9M in Crypto appeared first on Cryptonews.