According to a police statement, the seizure was done based on information about the transfer of illegal assets.
Detectives in the United Kingdom investigating money laundering seized £114 million (US$158.8 million) in bitcoin, making it the largest cryptocurrency seizure in the country and one of the largest in the world.
According to a news release released by the Met, which acts as the police force of Greater London, excluding the City of London, the seizure was carried out by detectives from the Metropolitan Police’s Economic Crime Command based on intelligence gathered about the transfer of illegal assets. According to the Met statement, the inquiry is still ongoing. More information was not immediately available. In a statement, Met Deputy Assistant Commissioner Graham McNulty stated, “Cash remains king, but as technology and online platforms advance, some are moving to more sophisticated techniques of laundering their riches.”