Notts Police makes first cryptocurrency seizure | Nottinghamshire Police https://www.nottinghamshire.police.uk/news-article/notts-police-makes-fi... Select Language ▼ ACCESS SEARCH YOUR AREA NEWS AND APPEALS ADVICE CONTACT CAREERS ABOUT INFORMATION Home » News and appeals » Notts Police makes first cryptocurrency seizure Notts Police makes first cryptocurrency seizure December 30, 2020 SHARE BY EMAIL Nottinghamshire Police has made its first ever seizure of cryptocurrency as part of an investigation into an alleged international money laundering operation. Officers arrested a 49-year-old man on suspicion of fraud and money laundering after executing a warrant at a property in Huthwaite. He has been bailed while police conduct further enquiries. The investigation centres on claims of fraudulent offers of drone light shows for a number of mainly US-based victims, with the proceeds allegedly being laundered through the purchase of cryptocurrency. Police seized £78,000 ($100,000) in cryptocurrency during the warrant on 7 December and were later successful in securing a Restraint Order at Nottingham Crown Court to freeze a further £500,000 of assets including property and vehicles while the investigation continues. Nottinghamshire Police's Financial Investigation Unit and Fraud Team jointly led the investigation and were supported by the National Crime Agency. Cryptocurrency is a digital form of money which can be traded on an exchange market in the same way as traditional currency. Detective Inspector Nikki Smith, head of Financial Investigation and lead for cryptocurrency, said: ”This investigation has been ground-breaking for us in relation to the seizure and investigation of this cryptocurrency, and all the staff involved in this operation have worked tirelessly to ensure we secure all available evidence and assets. "Cryptocurrency is not new, it was first released in January 2009, however it is new to policing and the Financial Investigation Unit is seeing an increased use of it by criminals 1 of 2 12/30/2020, 1:59 PM Notts Police makes first cryptocurrency seizure | Nottinghamshire Police https://www.nottinghamshire.police.uk/news-article/notts-police-makes-fi... who not only use it to trade goods and services on the dark markets but also to further launder their proceeds of crime. We are in a position whereby we can tackle this criminal use through new policing methods.” 101 101 is the number to call when you need to contact Nottinghamshire Police and it’s less urgent than a 999 call. Calls are free, no matter how long the call lasts. Sign up for email alerts from officers in your area with ABOUT CONTACT US LEGAL NOTICES COOKIES ADVICE CENTRE ACCESSIBILITY HELP SITE MAP WHAT TO DO IF YOU COME INTO POSSESSION OF A FIREARM 2 of 2 12/30/2020, 1:59 PM.