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Home - News - AFP Decodes Seed Phrase, Seizes AU$9.3M Crypto 2025

News

AFP Decodes Seed Phrase, Seizes AU$9.3M Crypto 2025

Ali Raza
Last updated: October 14, 2025 8:29 am
Ali Raza
Published: October 14, 2025
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Australian Federal Police Decodes Seed Phrase, Seizes AU$9.3M In Crypto From Ghost Mastermind
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Highlights
  • Australian Federal Police (AFP) decoded a seed phrase, confiscating AU$9.3M (~US$6.4M) in crypto linked to organized crime.
  • This was part of a crackdown targeting the mastermind behind Ghost, an encrypted messaging platform.
  • Jay Je Yoon Jung, the alleged developer of the Ghost app, faced several charges that could lead to a 26-year prison sentence.

The Criminal Assets Confiscation Taskforce (CACT), a division under the Australian Federal Police (AFP), has successfully seized AU$9.3M (~US$6.4M) in cryptocurrency in a crackdown targeting the mastermind behind Ghost encrypted messaging platform.

According to the Australian police, the Ghost communication platform was allegedly “built solely for the criminal underworld” to carry out illegal activities, such as drug trafficking and contract killings.

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Aussie cops snatch $6.4M in crypto from Ghost app! 👻🚔 #CryptoCrackdown #NotTheKrakenExchange 🐙💸 pic.twitter.com/SzJr0Evi8N

— RexBit Exchange (@rexbit_exchange) October 3, 2024

Australian Police Confiscated AU$9.3M (~US$6.4M) In Crypto from Ghost Messaging App

According to a press release issued yesterday, Wednesday, October 3rd, 2025, by the Australian Federal Police (AFP), the law enforcement body announced that its Criminal Assets Confiscation Taskforce (CACT) division has successfully confiscated AU$9.3M in crypto assets from Jay Je Yoon Jung, 32, the alleged mastermind behind Ghost encrypted communication platform.

In the press release, AFP revealed that upon raiding Jung’s home, some digital devices were found and analyzed, and with the help of the CACT, they were able to decode the seed phrases to gain access to Jung’s cryptocurrency wallet.

Scott Raven, AFP acting Commander, warned,

Whether you have tried to hide them in real estate, cryptocurrency or cash, we will identify your ill-gotten goods and take them away from you, leaving you with nothing.

Afterward, the police stated that it transferred the seized funds to their cryptocurrency storage and will subsequently move the crypto asset to the government to support future law enforcement operations after seeking its permanent forfeiture.

This is a clear pointer that seed phrases are NOT SAFE.

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Australian Police Arrested Jung Two Weeks Earlier

The Australian police previously announced that Jung was arrested on Tuesday, September 17th, as part of an investigation by AFP Operation Kraken. Another man who allegedly distributed the Ghost app was also arrested alongside Jung.

After his arrest, Jung was charged to a Sydney court on Wednesday, where he was slammed with five criminal offenses, which include supporting a criminal organization. If found guilty, Jung may end up bagging a 26-year prison sentence. 

Jung’s arrest comes almost a month after French authorities arrested Telegram co-founder Pavel Durov over content censorship failures. Durov’s arrest warrant revealed that some content on Telegram may be related to illegal activities like money laundering or terrorism.

Ghost Messaging Platform Was Designed Specially For Criminals

The AFP alleged that Jung specially designed the Ghost messaging app for criminals and illicit activities and resells modified smartphones, with a six-month subscription to access the app and technical support, for AU$2,350 (~US$1,620).

Operation Kraken Is Not Affiliated With Kraken Crypto Exchange 

Although the AFP codenamed the effort “Operation Kraken,” the operation has nothing to do with Kraken Exchange, one of the best crypto exchanges in the UK. 

A spokesperson for AFP stated that “Operation Kraken was just an investigative operation into a dedicated encrypted communications platform.”Kraken exchange also revealed that it “has not been the subject of any Operation Kraken investigations.”

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Ali About Us
ByAli Raza
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Ali Raza is a seasoned writer with over twelve years of experience specializing in cryptocurrency, blockchain, and the fintech industry. He has contributed to leading industry publications and authored hundreds of insightful articles in the fast-evolving digital asset space. His analytical skills and in-depth research give readers valuable perspectives on the industry.
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