Australian Federal Police (AFP) have seized luxury assets linked to a hacker

The Australian Federal Police (AFP) have seized luxury assets linked to a hacker who was convicted of cybercrime offenses. According to reports, authorities seized assets worth $4.5 million

The Australian Federal Police (AFP) has seized luxury assets linked to a hacker who was convicted of cybercrime offenses.

According to reports, authorities seized assets worth $4.5 million, including a beachfront mansion, luxury cars, and Bitcoin, from the convicted individual.

According to reports, the individual, 32-year-old Shane Duffy, from Queensland, saw millions worth of those assets seized after a lengthy investigation by the AFP into his illegal activities. He was apprehended on charges of stealing digital assets and cyber hacking.

The authorities seized Duffy’s beachfront home back in April. In addition, the Criminal Assets Confiscation Taskforce (CACT) of the AFP also seized a 2019 black Mercedes-Benz sedan and about 25 Bitcoins.

According to reports, Duffy was suspected of carrying out the theft of about 950 bitcoins from a French crypto exchange in 2013. The assets are now worth about $150 million. Before then, he had been convicted of hacking Riot Games, the US company behind the popular video game League of Legends.

In 2018, the CACT initiated an investigation after AUSTRAC was alerted to the development by authorities in Luxembourg about his suspicious bitcoin transactions. However, the authorities have yet to bring up criminal charges in connection with the alleged theft. Meanwhile, they have been able to halt the suspected proceeds of the alleged crime under federal laws, even without a prosecution.

Authorities were able to secure the restraining order for the assets obtained in 2019, and they were subsequently forfeited in April. According to the AFP, the assets include a waterfront mansion in Beachmere, Queensland’s Moreton Bay region, which was purchased at about $1.1 million, and is now estimated to be worth about $2 million. The authorities added that the property was held in the suspect’s mother’s name.

After the sale of the seized properties, the proceeds are expected to be transferred into a special fund that assists crime prevention and law enforcement initiatives. The AFP says it is still committed to confiscating alleged proceeds to disrupt the activities of criminals and cybercrime.

AFP Commander Jason Kennedy highlighted the law backing the seizure. “The Proceeds of Crime Act provides law enforcement agencies with unique powers to restrain and forfeit instruments and proceeds of crime,” he said.

He added that criminals are driven by greed, and unfortunately it is law-abiding Australians and businesses who end up losing their hard-earned money to these cybercriminals. “The profits derived from criminal activities are also often used to fund further criminal acts, which is why the AFP works closely with our partners in the CACT to target the proceeds of crime and ensure they are reinvested in the community,” he said.

According to reports, the CACT has seized criminal assets worth over $1.2 billion since 2019. These assets include houses, cars, fine art, luxury items, and digital assets.

According to court documents obtained by the media, Duffy allegedly accumulated more than $32,000 in 2013 through the sale of access to inactive League of Legends accounts.

The suspect was said to have hacked the X account of Riot Games president Marc Merrill to promote the illegal operation and allegedly partnered with another hacker to disrupt matches on the platform by disconnecting players. Riot Games mentioned the hack resulted in the loss of hundreds of thousands of dollars. In 2016, Duffy was sentenced to two-and-half years in prison, a term he served after pleading guilty in Brisbane District Court.