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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Australian Woman Accused of Laundering $5M in Bitcoin Through Unregistered Exchange

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
2 mins read
bitcoin money laundering

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In a first for the country, an Australian woman has been charged with illegally operating an unregistered Bitcoin exchange.

She further stands accused of using the cryptocurrency “exchange” to launder over 326 BTC transacted since 2017.

Australian Woman Accused of Money Laundering Through Illegal Bitcoin Exchange

An unidentified woman has been charged with what is said to be the first case of its kind down under involving Bitcoin.

The 52-year old woman was apprehended by NSW police while at a shopping center in Sydney’s inner west side.

NSW police and detectives from the State Crime Command’s Cybercrime Squad established Strike Force Kerriwah has been investigating the case since November 2018.

Related Reading | Global System to Combat Crypto-Driven Money Laundering in Development

Authorities claim that the individual was tied to a cryptocurrency wallet that was used to transact over 326 BTC over the course of several years.

“That equates to over $5 million in today’s money. This is a significant quantity of Bitcoin for somebody who is not a registered digital currency exchange,”  Detective Superintendent Matthew Craft, Cybercrime Squad Commander explained.

The woman was detained, and NSW police seized $60,000 in cash and 3.8 BTC worth of Bitcoin. Telephones, smartphones, computers, and more were also taken from the suspect’s home in Hurtsville.

Detectives say a search warrant was executed, and they hope that this arrest and continued surveillance will lead to many additional arrests related to the case dating back to 2017.

How Law Enforcement Is Tackling International Crypto Crime

The biggest issue governments and chief regulators take with cryptocurrencies, is their use related to “illicit” criminal activities and especially money laundering.

The pseudo-anonymity – or complete privacy – offered by some cryptocurrencies makes them especially attractive for cybercriminals, and even rogue nations to skate sanctions and or launder money.

These crypto assets are often at the center of most ransomware threats, and it has given the likes of Bitcoin and Monero a bad name.

Related Reading | Australian Law Enforcement Nets 20x Gains From Seized Bitcoin 

Task forces like the one formed in Australia are becoming commonplace, and several nations have joined forces to create a global system to combat money laundering.

Elsewhere other firms like the IRS are asking third-party firms for support to trace transactions, which could lead them to crypto traders and investors failing to report taxes – yet another federal crime.

It’s not all terrible for law enforcement when dealing with crypto crime. A separate case involving Bitcoin in Australia led to over 20x returns for the government as the BTC they seized had ballooned in value by over 2000% by the time ligation ended and the Bitcoin could be liquidated.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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