Cryptocurrency Price $435 Million Seized by 12 UK Police Forces in 5 Years

U.K. police have revealed how a lot cryptocurrency they’ve seized prior to now 5 years in response to Freedom of Data requests. The London Metropolitan Police seized extra bitcoins than different police boroughs.

UK Police Reveal Data About Seized Crypto

Twelve of the U.K.’s 43 police forces have seized cryptocurrency price roughly £322 million ($435 million) in legal investigations within the final 5 years, New Scientist reported Thursday, citing Freedom of Data (FOI) requests it submitted.

Bitcoin made up 99.9% of the cryptocurrencies seized within the U.K. Nonetheless, Legislation enforcement additionally seized ethereum, monero, sprint, and zcash, the publication conveyed.

The police power that seized essentially the most cryptocurrencies was the London Metropolitan Police, which seized £294 million in BTC. The Higher Manchester Police seized £25 million. Some police boroughs didn’t reply to the requests.

In the meantime, the U.S. tax authority, the Inner Income Service (IRS), revealed in November final yr that $3.5 billion in crypto was seized in the course of the fiscal yr 2021. This represents 93% of all funds seized by the tax company’s legal investigation unit throughout the identical time interval. The company expects to grab billions of {dollars} extra in cryptocurrency this yr.

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