William Wheatley, an Australian federal police officer, is accused of stealing 81.62 Bitcoin from a Trezor hardware wallet during a drug operation, according to shocking revelations. According to the National Anti-Corruption Commission (NACC), Wheatley moved the cryptocurrency to the Binance exchange after wiping the wallet.

Concerns Are Raised by the Prolonged Access to Crime Scene Evidence

The Australian police may have found the hardware wallet during a narcotics bust, but it took them almost three weeks to get a court order to access it, according to accounts that fuel the issue. When investigators eventually gained access, they discovered to their dismay that the Bitcoin—which had been valued at $309,000 during the 2019 raid—had vanished. Shortly after the operation, Wheatley was charged with masterminding the transfer.

Software for Crypto Tracking Exposes Officer’s Presumed Involvement

Crypto tracing software was used in the investigation process, and it was through IP addresses that a connection was found between Wheatley and the stolen Bitcoin. Cybercrime squad detective Sergeant Deon Achtypis first showed suspicions about a member of the crime syndicate, but he ultimately linked the digital trail to the police officer who was charged.

Global Law Enforcement Adopts Crypto-Tracing Tools

The case demonstrates how law enforcement organizations throughout the world are increasingly using crypto-tracing tools to combat unlawful operations involving digital assets. Global law enforcement agencies are utilizing technical innovations to track down and retrieve pilfered cryptocurrency assets. The use of Chainalysis Reactor software by Canadian law enforcement to track out unlawful cryptocurrency transactions was announced in August 2023.

Wheatley Highlights Trezor Security Breach While pleading innocence

Despite the accusations, Wheatley is standing by his innocence and fiercely rejecting any accusations that he stole, used his position for personal benefit, or had anything to do with the money obtained from illegal activities. According to reports, the accused cop is preparing to refute charges pertaining to the Bitcoin that was taken from the Trezor wallet.

This happens concurrently with Trezor admitting to a security compromise impacting around 66,000 users. Concerns have been raised over the compromised data of those interacting with Trezor’s support team since December 2021 due to the unlawful entrance into a third-party help portal. The legal dispute involving Wheatley is linked to more general cybersecurity issues regarding cryptocurrencies.

Disclaimer: The judicial proceedings are still ongoing, and the information presented in this page is based on reports and claims that are currently available. The context of the material supplied could change if the case progresses.