$158 million worth of bitcoins seized

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The British Metropolitan Police seized 114 million pounds ($158 million) worth of cryptocurrency Bitcoin as part of a money laundering investigation.
Police said that the amount was more than double the amount of cash seized last year, which constituted the largest seizure of cryptocurrency in the United Kingdom.
The value of one bitcoin is currently about 34,000 dollars, and its value has fallen from 65,000 dollars in April, which means that the amount confiscated may have almost doubled two months ago.
The arrest came by the British police’s Economic Crimes Command, “Scotland Yard”, after receiving information about the transfer of criminal assets. The investigation is still ongoing.
“Every part of Scotland Yard is working to reduce violence on the streets of London as a top priority, and that includes the financial investigators,” said Graham McNalty, Deputy Assistant Commissioner of Scotland Yard.
“There is a close connection between money and violence. Cash still rules, but as technology and online platforms evolve, some are moving towards more sophisticated ways to launder their profits.”





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