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Australia unmasks $123 million crypto laundering ring behind security firm Coinbase says it’s tackling frozen accounts in “major issue”Trends in freezing reduction “Send more Orange” coincides with significant replication signals Michael Saylor teases fresh Bitcoin buy after $1 billion stock offering

Recent developments across global cryptocurrency markets include a major multi-agency investigation into crypto money laundering in Australia, reporting progress on account unfreezing efforts at major U.S. exchange Coinbase, and cryptic signals from MicroStrategy regarding its continued accumulation of Bitcoin.

Australia unmasks $123 million crypto laundering ring behind security firm

Australia has significantly advanced its 18-month investigation into a suspected $190 million AUD ($123 million) crypto laundering operation. The alleged scheme concealed illegal proceeds within an armored vehicle security firm.

Federal and state law enforcement agencies charged four individuals in connection with the investigation, codenamed Operation Apex Predator, led by the Queensland Joint Organized Crime Taskforce (QJOCT).

Authorities report freezing approximately $13.6 million in suspected criminal assets across Queensland and New South Wales. Investigations revealed that one suspect laundered $9.5 million over a 15-month period by complexly integrating illicit funds with the security company’s legitimate earnings.

The proceeds were allegedly redirected through various ostensibly legitimate channels—including a sales promotion company, a classic car dealership, and cryptocurrency exchanges—before being delivered to beneficiaries either digitally or through these fronts. Transaction analytics traced illicit activity back to legitimate business assets.

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    <img src="https://s3.cointelegraph.com/uploads/2025-06/019754f3-c388-770b-b0a4-3a4d456d2d82" alt="Image related to Queensland Joint Organized Crime Taskforce asset seizure.">
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        <em>Authorities say 17 properties, vehicles and multiple bank accounts were seized. Source: QJOCT</em>
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Coinbase says it’s tackling frozen accounts in “major issue”

Coinbase CEO Brian Armstrong acknowledged this platform’s account freezing problem as a “major issue,” achieving an 82% reduction in avoidable freezes thus far. The firm made specifically freezing reductions rather than upending legitimate user activity a top priority, addressing long-standing user frustration.

Users had reported widespread account lockouts causing them to abandon Coinbase. Recent problems of trust were further widened by a data breach revealing details for over 70,000 customer accounts.

Trends in freezing reduction

Armstrong’s June 6 X post recognized that the problem “has been going on for longer than is acceptable” and directed affected users to Coinbase Support. The stated performance improvement is based on mapping and reducing *un*necessary freezes.

Coinbase reported this problem’s “dimensions” given the volume of regulated activity, stating the improvement percentage reflects this effort.

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    <img src="https://s3.cointelegraph.com/uploads/2025-06/01975336-a45b-74b9-b363-f869b372c3a7" alt="X post by Brian Armstrong regarding account freeze reduction.">
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        <em>Source: Brian Armstrong</em>
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“Send more Orange” coincides with significant replication signals

MicroStrategy COO Anthony Scirica later confirmed an internal update AMZN: +2.14% on corporate strategy regarding market volatility and digital assets.

Michael Saylor teases fresh Bitcoin buy after $1 billion stock offering

MicroStrategy executive chairman Michael Saylor, adding to the company’s persistent accumulation cycle, included a familiar Bitcoin chart element on June 8 alongside a non-descript XKRYPTOS stock bomb emoji.

The message “Send more Orange”, combined with Saylor’s recent posting of Bitcoin equity figures followed by the company’s $1 billion stock offering (the fourth quarter of four announced phases), strongly signals a likely new purchase.

If confirmed, this would mean MicroStrategy executing Bitcoin purchases consecutively for the ninth week. The timing follows the purchase of 705 BTC for approximately $75 million, with a public valuation increase of more than half ($20.6 billion) since then, dragging the company’s common stock nearly 15% higher.

Saylor’s posting precedes announcement of a $1 billion stock offering, quadrupling its target size, planned to finance further Bitcoin buying, which currently holds approximately 580.955 BTC. Saylor previously blogged about the company’s “solid returns on this long-term investment.”

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    <img src="https://s3.cointelegraph.com/uploads/2025-06/01974fd9-8448-7da0-880e-e2aa11f6fd5c" alt="Historical Bitcoin purchases visualized for MicroStrategy.">
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        <em>Strategy's history of Bitcoin acquisition. Source: SaylorTracker</em>
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The planned offering aims to raise the full $4 billion raised by Q3, using expected inflows for both additional Bitcoin and general operating expenditures.