During an online covert raid, criminals took £32,000 worth of bitcoin (BTC) in New Zealand, according to police.
According to reports, the officers were working on a money laundering probe covertly.
However, the thieves they were hunting stole £32,000 in BTC during the sting operation.
The police had obtained the grant specifically for the money laundering operation.
New Zealand police have apparently conducted two more investigations since the heist.
It also prompted an internal probe of police protocol. The inquiry uncovered procedural flaws that allowed the police to fail to secure the money. It also included suggestions for how the approach could improve.
The police also conducted a criminal inquiry into the theft. However, as of the time of publication, there was no information about the money’s movements or the criminals’ names. According to sources, the offenders may be based overseas, according to Detective Inspector Stuart Mills of the New Zealand Police’s National Organized Crime Group. He also stated that they were most probably part of a larger fraud scheme.
This news comes only days after another cryptocurrency heist, this time for £180,000. According to reports on July 5, a former employee of Cryptopia, founded in Christchurch, pleaded guilty to skimming the quarter-million.
According to recent reports, New Zealand’s central bank has commenced consulting on ways to improve the country’s cash and currency systems. The country is considering the possibility of a central bank digital currency (CBDC).
On July 7, the Reserve Bank of New Zealand published a notice in which assistant governor Christian Hawkesby announced that the first round of discussions will focus on “the broad concepts of money and cash stewardship.”
The announcement also mentioned a series of money and cash issues papers the Reserve Bank will distribute for public comment between August and November of this year.