Mega-mansion, luxe Merc seized in wild twist to French crypto heist

A Queensland man previously convicted of hacking a US gaming giant has had assets related to him – including a mansion, luxury car and Bitcoin worth a combined $4.5m – seized after a federal police-led investigation.

A Queensland man previously convicted of hacking a US gaming giant has had assets related to him - including a mansion, luxury car and Bitcoin - seized by federal police following an investigation.

The cryptocurrency, valued at $2m, was recovered in France during an operation targeting an alleged large-scale fraud syndicate.

The mansion on Queensland's Sunshine Coast was valued at $1.2m, while the luxury Mercedes Benz was worth $180,000.

Together, the assets seized by the Commonwealth Police had a total value of $4.5m.

The investigation began in 2021 after US authorities alerted Australian Federal Police to a large-scale fraud syndicate operating in Southeast Asia and France.

The syndicate allegedly defrauded victims in China, Taiwan, Vietnam and other countries, with the funds being laundered through cryptocurrency and a network of mules in Southeast Asia, before finally being sent to France for the final stage of laundering.

After a year-long investigation, police in France swooped on a property in August 2022, seizing cryptocurrency wallets and other evidence.

The cryptocurrency recovered by French authorities was valued at around 264 BTC, or about $2m at current rates.

At the same time, AFP officers searched a home on the Sunshine Coast, seizing a luxury Mercedes Benz and a mansion in the exclusive precinct of Palm Cove.

The mansion was valued at about $1.2m, while the car was worth $180,000.

The investigation was a joint operation between the AFP’s Cyber Command and the US Federal Bureau of Investigation. It also involved police in France, China, Taiwan, Vietnam, Malaysia, Singapore and Thailand.

The AFP’s Commander of Cyber Command, Chris Beken, said the investigation had spanned multiple continents and involved police from several countries.

“The AFP is committed to working with our international partners to combat cybercrime and bring the perpetrators to justice, no matter where they are in the world,” Commander Beken said.

“This investigation has been complex and challenging, but we are pleased to have achieved this result.”

The investigation is ongoing and further arrests are possible.