In a record-breaking move, the West Yorkshire Financial Crime Department has confiscated over $6 million dollars in cryptocurrency from a drug dealer in the UK. Simon Barclay, a 42-year-old man from the town of Huddersfield, ran a criminal empire online and was mailing out illegal substances in exchange for cryptocurrency. After receiving a tip-off from the UK's Dark Web Intelligence Collection and Exploitation Team (DICE), police intercepted him on his way to the post office and immediately searched his bags only to find envelops containing both cocaine and heroin. Upon searching his property, authorities found a huge stash of drugs and crypto worth £5 million.

Barclay pleaded guilty to possession of Class A and B drugs, alongside the possession of criminal property (cryptocurrency) used to launder money and was subsequently sentenced to nine years in prison. Police were then able to locate over £4.9 million in cryptocurrency in Barclay's possession and convert it into fiat, which is to now be distributed to the authorities. Along with this, the 42-year-old is also subject to a five-year Serious Crime Prevention Order once he is freed, to prevent him from returning to a criminal lifestyle.

The West Yorkshire Financial Crime Department's confiscation of funds from Barclay comes as a stern warning to criminals who think they can carry out illicit activities online and avoid the law. Barclay's lifestyle, as many before and after him, have been proof that traditional means of combating drug offences and other nefarious activities are effective in the digital age. The confiscation of funds also serves as a reminder of just how vulnerable cryptocurrency can be in the wrong hands.



Other News from Today