crimeandcrypto

Australian Police Crack Coded Wallet — $5.9M in Crypto Seized 🕸️💥

Australian law-enforcement unlocked a password-protected cryptocurrency wallet containing AUD 9 million (~USD 5.9 million) linked to alleged criminal proceeds. 📈

📌 The AFP revealed how a data scientist decoded the wallet:
the suspect had encoded a 24-word seed phrase by prefixing numbers to each group — a “human-modified” trick that masked the key.

📌 The suspect refused to surrender the keys, which could have allowed them to walk free from prison still rich in crypto. The AFP described the outcome as “unacceptable.”

Why this matters for crypto markets & holders:

Trust in custody and wallet security is under the spotlight — even encoded wallets may not guarantee impunity.

Regulators and enforcement are getting more sophisticated — this could lead to more wallet seize-operations globally.

For institutional entrants, this event signals “crypto safety & compliance” is not just tech-talk but actionable risk.


#Write2Earn #CryptoSecurity #WalletHack #CrimeAndCrypto #CryptoNews