$ 4.3 million in cryptocurrency confiscated from New Zealand digital pirates

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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.