Queensland hacker Shane Duffy loses $4.5M in cybercrime asset seizure, including Bitcoins
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Australian authorities have cracked down on a Queenslander allegedly involved in cybercrime . The accused, Shane Stephen Duffy, had amassed a fortune using hacking techniques over more than a decade. His luck finally ran out with the District Court of Queensland in April 20ordering the forfeiture of more than $4.5 million worth of assets, including a luxury mansion, a sleek Mercedes-Benz, and nearly 25 Bitcoins belonging to him following an Australian Federal Police (AFP) operation.The Criminal Assets Confiscation Taskforce (CACT), led by the AFP, announced on May 18 that a District Court in Queensland ordered these assets forfeited to the Commonwealth , closing a long-running investigation known as Operation Gouldian.These laws allow authorities to seize suspected crime proceeds even without a criminal conviction.The story begins back in 2013 when 950 Bitcoins were reportedly stolen from a cryptocurrency exchange in France.In 2018, Luxembourg law enforcement tipped off Australia 's financial intelligence agency, AUSTRAC, about suspicious Bitcoin transactions tied to the Queensland man.AUSTRAC passed the information to the AFP's CACT, triggering an extensive probe into the origin of the Bitcoin and the man's assets.The investigation identified suspected links between the man and the theft of 950 Bitcoin from a French cryptocurrency exchange in 2013.Authorities had frozen the man's Beachmere waterfront home, a black 2019 Mercedes-Benz sedan, and almost 25 Bitcoin, valued at over $4 million at today's rates, by July 2023, after determining the assets did not match any legitimate income sources.AFP Commander Jason Kennedy highlighted the importance of targeting criminal profits as he said, 'Criminals are driven by greed at the expense of honest Australians and businesses who are losing their hard-earned money to cyber criminals.'He emphasized that the seizure of these assets disrupts criminal networks and ensures ill-gotten gains are reinvested in community safety and crime prevention.Since 2019, the CACT has restrained over $1.2 billion in assets linked to criminal activities across Australia, including homes, cars, yachts, cryptocurrency, and luxury goods. The taskforce brings together specialists from the AFP, Australian Border Force, Taxation Office, and intelligence agencies to trace and recover criminal wealth.The confiscated assets will be sold, with proceeds placed in a Commonwealth fund supporting law enforcement and crime prevention initiatives, from drug intervention programs to technology upgrades combating cyber threats.
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