Australian Federal Police Team Up With FBI to Seize $1 Million Worth of Crypto

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The Australian Federal Police (AFP) has now confirmed that the Supreme Court of New South Wales has ordered that all cryptocurrencies in the possession of a convicted hacker be seized with immediate effect. According to the AFP, the amount seized is to the tune of over $1.2 million, and is the largest Commonwealth forfeiture of cryptocurrency yet.

Australian Federal Police Makes the Largest Commonwealth Seizure of Cryptocurrency

Making the announcement on Friday, the Australian Federal Police (AFP) said that a convicted 23-year-old hacker has been ordered to release about $1.66 million [Australian dollars] in his possession, in crypto and cash to the Commonwealth.

The Sydney offender pleaded guilty to a number of criminal offenses in October 2020. According to the AFP, while leading the Criminal Assets Confiscation Taskforce (CACT), the AFP obtained restraining orders over numerous PayPal accounts, bank accounts, and cryptocurrency held under falsified names, but at the time, suspected to be controlled by the young man.

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The verdict, which was passed last week by the Supreme Court of New South Wales, ordered the forfeiture of his 1.66 million Australian dollars to the Commonwealth Confiscated Assets Account, with over AU$1.2 million (US$902,276) in crypto.

According to reports, Karen Andrews, Minister for Home Affairs will be responsible for redistributing the funds to improve crime prevention, law enforcement, and support community safety-related initiatives.

The criminal act by the Sydney man was carried out together with another man in the United States. According to the AFP, the duo were both involved in stealing the usernames and passwords of streaming service customers, and then selling them online at a cheaper rate. The hacker has since been identified as an Evan McMahon, while his accomplice in the U.S. was Samuel Joyner.

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It wasn’t until May 2018, when the FBI referred to the AFP that investigations really began.  The FBI had contacted AFP about an account generator website that was stealing stolen account details at the time, for online subscription services, including Hulu, Spotify, and Netflix.

Evan McMahon has since April been handed a two year and two month sentence.

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