Four Charged in $123M Queensland Crypto Laundering Scheme

BTCC / BTCC Square / Global Cryptocurrency /

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2025-06-10 06:01:01

Australian authorities have dismantled a sophisticated money laundering network in Queensland, charging four individuals for allegedly moving $123 million in illicit cash into cryptocurrency. The 18-month investigation, led by the Australian Federal Police (AFP) and involving multiple agencies, culminated in 14 search warrants across Brisbane and the Gold Coast.

A Gold Coast-based security company stands at the center of the case. Its director and general manager face charges for dealing with nearly $6.5 million in criminal proceeds. The operation allegedly mixed legitimate cash transport with funds from organized crime, funneled through secret dead-drop locations and disguised as domestic cargo before being converted into crypto assets.

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