Australia Seizes $6.4 Million in Crypto in Major Crime Bust

Operation Kraken targets encrypted communication platform 'Ghost,' leading to multiple arrests and significant asset seizures.

Jay Je Yoon Jung, 32, was arrested and charged with multiple offenses, including supporting a criminal organization.
Authorities cracked the seed phrase of crypto wallets linked to Jung, allowing them to seize $6.4 million in cryptocurrency.
Operation Kraken has resulted in 46 arrests, 93 search warrants, and the seizure of 30 illegal firearms.
The operation has also prevented over 200 kilograms of illicit drugs from entering the Australian community.
The seized assets will be used to benefit the community through crime prevention and law enforcement initiatives.