Police in the UK have been actively ramping up the number of seized ill-gotten cryptocurrency holdings over recent years, according to data from 45 regional police services.
According to information collected from at least 27 police forces and summarized by the Observer, the number of raids against cryptocurrency criminals has been steadily going up.
Police authorities have also observed that the number of criminals trying to launder their money through honest businesses has increased. More than half of the inquired police authorities confirmed that they had successful seize of crypto funds in 2021.
The authorities similarly confirmed that bitcoin (BTC) and ethereum were the digital assets used by most criminals.
However, there were other less-known rivals which are used to obfuscate the origin of funds and thrown authorities off their game by using unexpected tokens that are harder to track or just easier to ignore.
According to Gurvais Grigg, an investigator for the FBI, BTC remains the main currency for most crypto criminals, as it’s the sort of “digital gold” that they use to move their stolen funds and create additional value.
Some 300 officers are already trained to specialize in the tracking of crypto funds, with hundreds more now being educated to do just that job, which means that the number of police authorities reporting successful busts against crypto criminals may rapidly go up.