October 2nd 2024.
According to recent reports, the police have made a major breakthrough in their investigation into the encrypted messaging app Ghost. It has been confirmed that they have seized a whopping $9.3 million in cryptocurrency, which is allegedly owned by the mastermind behind the app.
The Australian Federal Police shared that this significant amount of crypto assets was retrieved after conducting a thorough digital forensic analysis of the devices belonging to the man from Narwee. The suspect was taken into custody on September 17 and it is believed that he was solely responsible for the criminal activities carried out through Ghost.
Jay Je Yoon Jung, a 32-year-old man, has been accused of creating Ghost with the intention of engaging in unlawful activities. As the investigation progresses, the $9.3 million has been safely transferred to secure crypto storage by the AFP.
The accused has been charged with five offences under the AFP's Operation Kraken, including supporting a criminal organization and fraud. It has also been revealed that Jung was just 23 years old when he launched Ghost and commenced the development of encrypted devices that could prevent any interception of messages by the authorities.
The dedicated encrypted communication devices used by Ghost are said to be of superior quality compared to other platforms like WhatsApp and Signal. The mastermind allegedly sold these devices, known as DECDs, for a hefty sum of $2350. He also managed a strict vetting process for new users to ensure they were suitable for the Ghost network.
Recent statistics suggest that there are currently over 600 active Ghost phones worldwide, with approximately 400 of them being used in Australia. Operation Kraken has yielded impressive results, including 46 arrests and the restraint of assets worth more than $11 million.
This is the second time that assets have been seized in connection to Operation Kraken, with the first being in September when assets linked to a syndicate in Western Australia were confiscated. Acting Commander of the AFP, Scott Raven, has stated that organized crime groups attempting to conceal their illegal profits will not go unnoticed.
He warned that whether these profits are hidden in real estate, cryptocurrency, or cash, the AFP will identify them and seize them, leaving the criminals with nothing. This serves as a strong message to those involved in such activities that their actions will not go unpunished.
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