Avon and Somerset Police's Financial Investigation Unit forfeited cryptocurrency and cash assets exceeding £1 million under the Proceeds of Crime Act. The seizure included 20.21 Bitcoin and additional crypto holdings totaling £1,032,487.86—equivalent to approximately $1.4 million—traced to dark web marketplaces operating between 2016 and 2019.
The investigation marked the largest cryptocurrency forfeiture on record for the force and came after April 2024 legislation enabled authorities to freeze crypto wallets based on reasonable suspicion of criminal connection.
Detective Constable Anthony Davis of the FIU said the case demolishes a persistent myth about blockchain anonymity. "Many people think cryptocurrencies provide anonymity and help conceal wealth," Davis said. "In reality, a permanent record of transactions is stored on a digital ledger called a blockchain, which can be an invaluable source of evidence."
The investigation employed specialist cryptocurrency tracing techniques and assistance from the Police Cyber Team to identify and trace the illicit assets. Investigators established that the holdings and associated funds constituted proceeds of crime, recoverable under POCA. The court approved the forfeiture after confirming the assets originated from unlawful conduct.
The subject, now deceased, had a prior conviction for money laundering. Proceeds recovered through POCA are reinvested into community and police initiatives, including education, training, early intervention and crime prevention programs.
Davis said law enforcement will "continue to use all available powers to identify, trace and recover criminal property, regardless of the form it takes," adding that seizing criminal profits disrupts the financial infrastructure supporting organized crime.
