Australian police bust crypto ATM theft ring

Published 18/02/2025, 16:46
Australian police bust crypto ATM theft ring

On Tuesday, Australian police announced the dismantling of a local crime syndicate accused of conducting a series of commercial burglaries in Melbourne.

The operation, which began in mid-January, involved the theft of six cryptocurrency ATMs and a significant collection of valuable trading cards, with the total haul including Pokemon, Yu-Gi-Oh, and Magic the Gathering collectibles.

The Victoria Police stated that their investigation led to the discovery of a trove of stolen goods, described as an "Aladdin’s cave," which contained not only the aforementioned items but also firearms, 100 car keys, a pill press machine, and power tools. This cache points to a "significant network of offenders" believed to be behind the targeted thefts.

Four men have been apprehended in connection with this crime wave. One of the suspects faces multiple charges, including 14 counts of burglary and handling stolen goods, and is scheduled to appear in court on May 2. Another suspect, charged with various offenses including five commercial burglaries and theft of motor vehicles, is set to face the court on February 21. The remaining two men have been released pending further inquiries.

Detective Inspector Patrick Watkinson of the North West Metro Regional Crime Squad indicated that the main perpetrators were in custody and suggested a potential link to a larger criminal organization. He mentioned that the police had identified both the suppliers of the stolen goods and the Middle Eastern Organised Crime Syndicates allegedly directing the activities of the arrested individuals.

The thefts occurred in a state that is part of Australia’s rapidly growing market for cryptocurrency ATMs. Data from Coin ATM Radar reveals a surge in the number of Bitcoin ATMs, with the country now hosting over 1,462 machines, up from just 67 in August 2022. This growth positions Australia as the third-largest hub for Bitcoin and crypto ATMs worldwide, following the United States and Canada.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.