The UK government has declared a major offensive against corruption, unveiling a new strategy that specifically targets the misuse of crypto-assets and luxury property to launder illicit wealth. Announced by Deputy Prime Minister David Lammy, the plan aims to close financial crime loopholes, strengthen enforcement, and position the UK as a global leader in the fight against dirty money, which is estimated to see over $133 billion laundered through the country annually.
about UK Unveils Anti-Corruption Strategy Targeting Crypto & Dirty MoneyNational Crime Agency
0 in Finance and 0 in Crypto last weekUK Seizes $32M in Russian Money Laundering Crackdown
A major UK-led operation targeting Russian sanctions evasion has resulted in 128 arrests and the seizure of $32.6 million in cash and cryptocurrency. The National Crime Agency revealed that Russian-linked money laundering networks operate in at least 28 British towns and cities, using sophisticated methods to convert illicit cash into crypto to finance organized crime and Russian military operations in Ukraine.
about UK Seizes $32M in Russian Money Laundering CrackdownEx-NCA Officer Jailed for Stealing $5.6M in Bitcoin
Paul Chowles, a former UK National Crime Agency (NCA) officer, was sentenced to five and a half years for stealing 50 Bitcoin (worth $77,000 at the time) during a 2017 investigation into the dark web marketplace Silk Road 2.0. The stolen BTC, now valued at over $5.6 million, was laundered through Bitcoin Fog, a crypto mixing service. Chowles, who exploited his position to transfer the funds from a seized ‘retirement wallet,’ used Cryptopay and Wirex debit cards for 279 transactions totaling $144,580 before being caught. Forensic blockchain analysis by Chainalysis traced the funds, leading to his arrest in 2022. The case highlights the NCA’s enhanced powers to seize and destroy criminal crypto assets without arrests.
about Ex-NCA Officer Jailed for Stealing $5.6M in BitcoinEx-NCA Officer Jailed for Stealing $5.9M in Silk Road Bitcoin
Paul Chowles, a former operational officer with the UK’s National Crime Agency (NCA), has been sentenced to five-and-a-half years in prison for stealing 50 Bitcoin (now valued at $5.9 million) seized during the investigation into Silk Road 2.0. Chowles, who was part of the team probing the infamous dark web marketplace, pleaded guilty in May to charges of theft, transferring criminal property, and concealing criminal property. The case highlights vulnerabilities in law enforcement handling of seized crypto assets and underscores the ongoing legal repercussions from the Silk Road investigations.
about Ex-NCA Officer Jailed for Stealing $5.9M in Silk Road BitcoinInstitutions Now Hold 30.9% of Bitcoin Supply
Centralized Bitcoin treasuries, including governments, ETFs, and corporations, now hold 30.9% of the total circulating supply—6.1 million BTC—marking a 924% increase over the past decade. Three dominant entities control 65-90% of institutional holdings, while private companies show more distributed ownership. Custody has shifted from exchanges to ETFs and DeFi, with sovereign reserves (like the US’s 200,000 BTC) playing a unique role. Despite stable total holdings, these entities drive price volatility, with monthly flows swinging by $10B. Governments, including the US and China, amass BTC via seizures, creating dormant but market-moving reserves.
about Institutions Now Hold 30.9% of Bitcoin SupplyUK Arrests Trio in £15M Crypto Scam Crackdown
The Metropolitan Police’s Economic Crime Command has arrested three men in connection with a crypto fraud operation that allegedly laundered over £15 million through shell companies. The arrests were part of Operation Galafarm, a long-running investigation into fraudulent crypto investment schemes. Law enforcement agencies in the UK are intensifying efforts against crypto crime, with the National Crime Agency estimating up to $5.1 billion in illicit crypto transactions linked to the UK annually. The British government currently holds over 61,000 BTC seized from criminals, valued at over $6.1 billion, but has no plans to create a strategic Bitcoin reserve, unlike the U.S. The government has faced scrutiny for not selling seized Bitcoin to offset controversial welfare cuts.
about UK Arrests Trio in £15M Crypto Scam CrackdownUK Court Orders Seizure of 4.3 Million Dollars in Bitcoin from Crime Boss
A UK judge has authorized the seizure of $4.3 million in Bitcoin from crime boss Alexander Surin, known as “Don Car-Leone,” after he failed to prove the funds were lawfully obtained. Surin, who fled to Dubai following a drug trafficking conviction, claimed the Bitcoin was earned through gold trading, but the Crown Prosecution Service presented compelling evidence linking the funds to illicit activities. The judge ruled that the Bitcoin holdings were proceeds of crime, dismissing Surin’s explanations as lacking credibility.
about UK Court Orders Seizure of 4.3 Million Dollars in Bitcoin from Crime Boss