Australian man surrenders Rp47 billion worth of crypto assets without charge

Updated

May 20, 2025

Gambar Australian man surrenders Rp47 billion worth of crypto assets without charge

Jakarta, Pintu News – A man from Queensland, Australia, formally handed over assets worth more than Rp47 billion to the government, including luxury properties, vehicles, and Bitcoin , despite not being charged with a crime. The move is part of Australia’s enforcement of its asset forfeiture laws, which allow for confiscation even without a conviction.

Case Background and Seized Assets

In this case, authorities seized various high-value assets such as a beachfront mansion, a Mercedes-Benz car, and nearly 25 BTC estimated to be worth around $2.6 million or Rp42.673 billion. The total assets seized amounted to more than $2.9 million or around Rp47.598 billion.

The investigation began after AUSTRAC, Australia’s financial intelligence agency, received a report from authorities in Luxembourg regarding suspicious activity related to Bitcoin movements. Upon further investigation, the man was allegedly involved in the theft of 950 BTC from a French crypto exchange in 2013.

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Mechanism of Seizure without Indictment

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Even if no charges are laid against a suspect, Australian law allows for asset forfeiture through the proceeds of crime legislation. Under this law, if the assets are assessed to be disproportionate to the individual’s legal income and there is a suspected link to illegal activity, the state can seize them.

A Queensland district court decision in April 2025 stipulated that all assets be confiscated and allocated to the Commonwealth Confiscated Assets Account. Funds from this account will be used to finance community crime prevention and law enforcement programs.

CACT’s Role and Enforcement Efforts

This case is part of a broader effort by the Criminal Assets Confiscation Taskforce (CACT), a task force established by the Australian Federal Police (AFP) in 2018. CACT has a mandate to investigate cybercrime and crypto asset thefts that have occurred in recent years.

Since mid-2019, CACT has seized more than $770 million or around Rp12.634 trillion in assets suspected of being derived from criminal activity. These assets include mansions, vehicles, yachts, luxury goods, artworks, and cryptocurrencies such as Bitcoin.

This case is not the only digital asset seizure in Australia. In previous operations, CACT has also seized $6 million in digital assets as part of an investigation into an encrypted communications platform called Ghost. In addition, in October 2024, CACT also seized $500,000 in crypto assets linked to the illegal arms trade and $330,000 in suspected money laundering in the Gold Coast region.

Conclusion

This case of seizure of crypto assets without charge in Australia demonstrates the growing role of financial law and supervision in regulating cryptocurrency-related activities. Even in the absence of formal charges, law enforcement officials can still act if there is a strong suspicion that the assets were obtained illegally. This is an important reminder for crypto players to conduct their activities in a transparent and regulated manner.

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