Australian Police Decrypt Crypto Wallet, Seize $5.9M in Digital Assets
Australian Federal Police (AFP) have successfully accessed a cryptocurrency wallet containing AU$9 million (US$5.9 million) after cracking its encrypted backup. The breakthrough came during a criminal investigation targeting a suspect accused of supplying tech products to alleged criminals.
Forensic analysts reconstructed a 24-word seed phrase from a coded image discovered on the suspect's phone. The image contained over 50 number combinations divided into six groups—a common format for wallet backups. Authorities seized the funds after the suspect refused to provide access, an offense carrying up to 10 years imprisonment.
The recovered assets may be repurposed for crime prevention initiatives pending court approval. This case underscores law enforcement's growing capability to trace and recover digital assets, even when suspects employ basic obfuscation techniques.
