November 23 2019
A man suspected of online piracy has been confiscated nearly $ 4.3 million in cryptocurrencies from New Zealand authorities. The police also seized another $ 700,000 in bank deposits.
The funds were frozen by the Criminal Proceeds Recovery Act. It is by far the largest confiscation of cryptocurrencies in New Zealand.
According to a report in the local publication NZ Herald, the police have secured around $ 5 million in cryptocurrency and bank deposits. The seizure took place following a US investigation for alleged involvement in an online piracy website.
