Australian Authorities Bust $124M Crypto Laundering Scheme, Charge Four, Freeze $13.7M
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Australian authorities have dismantled a highly complex money laundering operation in Queensland that allegedly saw $124 million in cash converted into cryptocurrency. The long-running investigation, led by the Australian Federal Police (AFP) and involving multiple agencies, has resulted in charges against four individuals and the freezing of $13.7 million (AUD 21 million) in assets, including properties, vehicles, and bank accounts in Queensland and New South Wales.
$124M Crypto Laundering Scheme Exposed in AustraliaAuthorities Charge Four: https://t.co/mOElxlCnHn
— Bony Bean (@bonybean) June 12, 2025
According to officials, the scheme operated under the guise of a Gold Coast-based security company. This company reportedly used its armored transport unit to launder illicit cash by blending it with legitimate business earnings and then converting the funds into crypto to hide their origin.
QJOCTF Cracks Major Money Laundering Network Using Couriers, Businesses, and Cryptocurrency
The Queensland Joint Organized Crime Taskforce (QJOCTF) executed 14 search warrants across Brisbane and the Gold Coast, deploying over 70 officers. AUSTRAC and the Australian Taxation Office (ATO) also supported the effort by tracking suspicious financial flows and monitoring dead drop locations where illicit cash was stashed nationwide.
Authorities allege the security company operated a network of couriers, businesses, bank accounts, and cryptocurrency wallets to funnel and obscure funds. Illicit cash, reportedly originating from organized crime groups, was collected from drop sites, flown as domestic cargo into Queensland, and picked up by couriers tied to the company.
Some of the money was allegedly funneled through a sales promotion business and a classic car dealership before being paid out in cryptocurrency or through third-party intermediaries. The true source of the cash remains under investigation.
Authorities Warn of Social Harm as Four Charged in Sophisticated Money Laundering Scheme
AFP Detective Superintendent Adrian Telfer described the scheme as a “sophisticated criminal enterprise” that intentionally disguised the origin, value, and movement of funds. “Money laundering investigations are incredibly challenging due to the complex web of deception involved,” he noted.
Queensland Police Acting Superintendent David Briese emphasized the social harm caused by such activities. “Criminal networks use money laundering to legitimize their profits and exploit legitimate businesses, harming communities and economies. It fuels serious organized crime, enabling everything from drug trafficking and exploitation to fraud and violence,” he said.
The four individuals charged in connection with the operation face significant prison sentences if found guilty of offenses under the Criminal Code and the Crimes Act. Investigations into the source and full extent of the illicit funds are ongoing.
Impact on the Crypto Market and Regulatory Landscape
Therefore, this high-profile bust is likely to increase regulatory scrutiny on the cryptocurrency sector in Australia and beyond. The use of digital assets to launder illicit funds highlights ongoing concerns among global regulators about crypto’s role in financial crime.
While the broader crypto market has not shown significant immediate price volatility following the news, such enforcement actions can influence long-term investor confidence and may accelerate the implementation of stricter compliance requirements for crypto exchanges and businesses handling digital assets.
