More than $4.5 million worth of luxury assets — including a waterfront mansion in Queensland, a sleek Mercedes-Benz, and nearly 25 Bitcoin — have been forfeited to the Commonwealth, following a cybercrime investigation led by the AFP’s Criminal Assets Confiscation Taskforce (CACT).
The Queensland District Court ruled in April 2025 that the assets be permanently seized under the Proceeds of Crime Act, following the conclusion of Operation Gouldian — a complex probe into stolen cryptocurrency and cyber hacking that began in 2018.
The investigation was sparked after AUSTRAC received a tip from law enforcement authorities in Luxembourg regarding suspicious Bitcoin transactions. The digital trail led to a Queensland man previously convicted of hacking a US-based gaming company. Authorities suspected a link between the man and the 2013 theft of 950 Bitcoin from a French cryptocurrency exchange.
Although no criminal charges were laid, Australia’s robust proceeds of crime laws enabled the CACT to restrain the assets, arguing they were not supported by legitimate income.
In July 2023, the AFP executed search warrants at the Beachmere property after securing court orders to restrain the house, a black 2019 Mercedes-Benz sedan, and 24.99454224 Bitcoin. Two years later, those assets have now officially been forfeited, with proceeds from their future sale to be reinvested into crime prevention and law enforcement programs.
AFP Commander Jason Kennedy said the case highlights a key strategy in fighting organised and cyber-enabled crime.
“Criminals are driven by greed at the expense of honest Australians,” he said.
“Profits from these crimes often fund further illegal activity, which is why we work tirelessly to strip criminals of their financial incentives and reinvest that money into keeping communities safe.”
Since July 2019, the CACT has restrained over $1.2 billion in suspected criminal assets, ranging from houses and yachts to fine art and cryptocurrency.
Formed in 2012, the CACT brings together experts from the AFP, Australian Border Force, ATO, AUSTRAC and the Australian Criminal Intelligence Commission. Their combined efforts use civil-based legal powers to trace, freeze, and confiscate illicit wealth — even when no criminal charges are filed.
Seized assets are managed by the Australian Financial Security Authority (AFSA) and liquidated, with proceeds paid into the Commonwealth Confiscated Assets Account. Funds from this account are used to support crime prevention, drug intervention, and broader law enforcement initiatives across the country.
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