Australian police cracked the mnemonic phrase of a crypto wallet worth $6.4 million

ChainCatcher news, according to Cryptopolitan, the Australian Federal Police have seized a cryptocurrency wallet containing $6.4 million, which is believed to be the illegal proceeds of an organized crime group.

This operation is part of a broader crackdown targeting encrypted communication networks, which are believed to be exploited by criminal enterprises. The Australian Federal Police revealed that they cracked the mnemonic phrase of the criminals' wallet and seized a total of $6.4 million in funds. In addition, the police arrested a 32-year-old Sydney resident, Jay Je Yoon Jung, who is accused of developing Ghost, a highly encrypted communication platform. According to the police, this platform was specifically designed for criminal organizations.