Australian Authorities Seize $37.9M in Crypto in Major Crime Ring Bust
South Australia Police have arrested 55 individuals and filed 800 charges in the third phase of Operation Ironside, a joint investigation with the FBI targeting a cryptocurrency-linked criminal network. Authorities confiscated approximately AU$58 million ($37.9 million) in digital assets tied to the operation.
The crackdown relied on AN0M, an encrypted messaging app covertly developed by the FBI to monitor illicit communications. The app, embedded in modified phones without cameras or GPS, was used to track drug trafficking and crypto transactions. Deputy Police Commissioner Linda Williams described the operation as a "significant blow to organized crime" across the region.
With 300 officers executing raids, Williams hinted at further arrests but noted the scale of this phase was "unprecedented." The High Court's approval of AN0M messages as evidence enabled the latest wave of enforcement.
