TLDR
Queensland man forfeited $2.9 million in assets including 25 BTC, a waterfront mansion, and a Mercedes-Benz
Assets were seized under Australia’s proceeds of crime laws without criminal charges
Case linked to theft of 950 Bitcoin from a French crypto exchange in 2013
Australian Federal Police began investigation after tip from Luxembourg authorities
Since 2019, Australian authorities have restrained $770 million in suspected criminal assets
A Queensland man has surrendered Bitcoin worth approximately $2.6 million along with other assets following an Australian Federal Police (AFP) investigation linking him to a major cryptocurrency theft from 2013.
The forfeiture includes nearly 25 Bitcoin, a waterfront mansion, and a Mercedes-Benz sedan. The total value of all confiscated assets exceeds $2.9 million, according to the AFP statement released on May 18.
The investigation began in September 2018 after authorities in Luxembourg alerted AUSTRAC, Australia’s financial intelligence agency, about suspicious Bitcoin transactions linked to the Queensland resident.
The Investigation and Forfeiture
The man, who has not been officially identified in police statements, was previously convicted of hacking a U.S. gaming company. Local media outlet 7NEWS reported the individual as Shane Stephen Duffy, who pleaded guilty in 2016 to fraud and computer hacking related to selling personal data of League of Legends players.
AFP investigators connected Duffy to the theft of 950 Bitcoin from a French cryptocurrency exchange in 2013. Despite this connection, no criminal charges were filed specifically for the Bitcoin theft.
The assets were first restrained in July 2023 after authorities determined they were disproportionate to the man’s known income. A Queensland District Court approved their forfeiture in April 2025.
“The AFP has unique powers under the Proceeds of Crime Act to restrain and forfeit assets suspected to be proceeds of crime, including cybercrime,” said AFP Commander Jason Kennedy in a statement.
Australia’s proceeds of crime laws allow for the seizure of assets believed to be connected to criminal activity even without a criminal conviction. This legal framework empowers the Criminal Assets Confiscation Taskforce (CACT) to target suspected illicit gains.
Broader Crackdown on Crypto Crime
The case represents part of a larger effort by Australian authorities to combat cryptocurrency-related crime. Since mid-2019, the CACT has restrained approximately $770 million worth of suspected criminal assets, including homes, vehicles, luxury goods, and cryptocurrency.
The AFP-led Criminal Assets Confiscation Taskforce (CACT) has secured the forfeiture of more than $4.5 million worth of assets, including a Queensland waterfront mansion, luxury car and Bitcoin, after identifying them as suspected proceeds of crime. https://t.co/Wglk0m5K50
— AFP (@AusFedPolice) May 17, 2025
When asked about the valuation of the seized Bitcoin, the AFP told Decrypt: “The value of the Bitcoin was determined some time ago when it was sold, so it may have appreciated since. That likely accounts for the discrepancy in the figures.”
Other recent actions by the CACT include the seizure of $6 million in digital assets related to Ghost, an encrypted communications platform under investigation as part of Operation Kraken in October 2024.
The task force also confiscated $500,000 in cryptocurrency tied to firearms trafficking and $330,000 linked to a Gold Coast money laundering ring.
Proceeds from the sale of forfeited assets will be transferred to the Commonwealth Confiscated Assets Account. These funds will later be used to support community-focused crime prevention and law enforcement programs.
The AFP’s expanding mandate focuses on disrupting financially motivated crime by targeting the profits derived from criminal activities. This approach aims to prevent criminals from using illicit gains to fund further criminal enterprises.
In a separate but related development, Australia’s financial intelligence agency recently fined Melbourne-based crypto exchange Cointree $75,120 for failing to submit suspicious activity reports within required timeframes.
