ChainCatcher news, the Australian Federal Police (AFP) said on Tuesday that it had seized $6.4 million worth of cryptocurrency as part of an investigation into the mastermind behind Ghost, an encrypted communication application used by organized crime groups.

Jay Je Yoon Jung, a 32-year-old suspect from New South Wales, was arrested in "Operation Kraken" on September 17 and now faces multiple charges, including supporting a criminal organization.

Authorities will transfer the confiscated funds to secure storage. These assets will be restricted under the Federal Proceeds of Crime Act 2002. The bill aims to disrupt criminal networks by confiscating illegal property.