HEALTH regulators have seized almost £4million worth of Bitcoin in their war against illegal online medicine sales.
The Medicines and Healthcare products Regulatory Agency recovered £7.5million of assets from criminals last year.
Health regulators have seized almost £4m worth of Bitcoin in the war against illegal online medicine sales[/caption]
That included £3.9million worth of cryptocurrency made from online sales of Viagra, painkillers and sleeping pills.
The agency confiscated 17 million doses of unlicensed medical drugs.
Head of enforcement Andy Morling said: “This is almost exclusively an online trade now.
“Criminals look for what they perceive as safe places for their ill-gotten gains and things that are untraceable to them as criminals.
“There’s been a long-held perception that cryptocurrencies and Bitcoin in particular provide anonymity for the offenders and cast-iron security for their illegally obtained profits.
“Neither of those are true and every financial transaction leaves a trace.
“As they move into crypto, we are there waiting for them.”
Government departments can now sell cryptocurrencies seized from offenders.
Health minister Karin Smyth added: “Shameful criminals selling unregulated and illegal medicines must feel the full force of the law.
“We are cracking down on these rogue retailers, taking illicit medicines off the streets, and keeping the public safe.”
“The MHRA will use the funds made through this to strengthen future action against criminals.”
