UK Police Seize $1.4M in Bitcoin Traced to Darknet Markets

Avon and Somerset Police have successfully forfeited 20.21 Bitcoin, along with other cryptocurrencies and bank funds, totaling approximately $1.4 million (£1.03 million). The assets were traced to darknet marketplaces that were active between 2016 and 2019 before being shut down by law enforcement. This significant seizure marks the largest cryptocurrency forfeiture for the force since the UK introduced new powers for freezing crypto wallets in April 2024.

Investigators utilized the force's cyber team to link the holdings to the now-defunct darknet sites, which facilitated a range of criminal activities including drug supply and human trafficking. The individual under investigation, who had a prior money laundering conviction, has since passed away. The blockchain's permanent record was highlighted as an invaluable source of evidence by Detective Constable Anthony Davis of the financial investigation unit.

The forfeiture was executed under the Proceeds of Crime Act, with a court accepting that the assets represented the proceeds of unlawful conduct. Money recovered through this act is allocated to community and policing programs. At current market prices, the seized Bitcoin alone would be valued at around $1.6 million.