Coinspeaker
AFP Seizes $6.4 Million Cryptocurrency from Encrypted App Creator
In a major move against organized crime, the Australian Federal Police (AFP) cracked a key code, unlocking $6.4 million (AUD 9.3 million) in cryptocurrency. The operation targeted Jay Je Yoon Jung, suspected of running the encrypted messaging app “Ghost”, allegedly tied to multiple illegal activities.
On October 2, 2024, the AFP revealed that a Criminal Assets Confiscation Taskforce (CACT) analyst successfully decrypted a seed phrase found on devices seized from Jung’s home. This breakthrough enabled authorities to transfer the seized cryptocurrency into secure AFP custody, marking a significant win in the fight against cybercrime.
AFP Strengthens Anti-Crime Efforts
The seized funds are expected to be transferred to the government shortly, with plans to allocate them to strengthen law enforcement initiatives. The move shows the Australian Federal Police’s determination to weaken the finan
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