UK police seize haul of cryptocurrency in London worth almost £180m

British detectives seized a haul of cryptocurrency in London on Tuesday that was worth almost £180m.

The Metropolitan Police said that it was the largest amount of cryptocurrency ever seized by police in the UK and it was one of the largest seized globally.

It also broke the last record of cryptocurrency seizure in the country which was worth £114m and was confiscated by the Met back in June.

The cryptocurrency was discovered on Saturday after the police received intelligence relating to the transfer of criminal assets.

A 39-year-old woman was arrested on 24 June on suspicion of money laundering following the seizure earlier in that same month and it was believed that she was related to the latest confiscation. She had since been bailed.

Graham McNulty, the Met’s deputy assistant commissioner, said: “While cash still remains king in the criminal world, as digital platforms develop we’re increasingly seeing organized criminals using cryptocurrency to launder their dirty money.

“The detectives on this case have worked tirelessly and meticulously to trace millions of pounds worth of cryptocurrency suspected of being linked to criminality and now being laundered to hide the trail.

"Our investigation will stop at nothing to disrupt the transfer and identify those involved."