London, UK - London's Metropolitan Police has seized 114 million pounds ($158 million) worth of Bitcoin as part of an investigation into money laundering offenses.

The police said the sum is more than double the amount of cash seized last year and was the largest cryptocurrency confiscation ever in the United Kingdom.

One Bitcoin is currently worth around $34,000, having fallen from a peak in April of almost $65,000, meaning the sum confiscated may have been worth nearly double two months ago.

The seizure by Scotland Yard's Economic Crime Command followed intelligence received about the transfer of criminal assets. The investigation is continuing.

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Deputy Assistant Commissioner Graham McNulty said: "Every single part of the Met is working to reduce violence on the streets of London as an absolute priority, this includes our financial investigators.

"There is an inherent link between money and violence. Cash remains king, but as technology and online platforms develop, some are moving to more sophisticated methods of laundering their profits. But we have highly trained officers and specialist units working day and night to remain one step ahead."

The announcement of the recovery of the funds did not include information as to their original source. Cryptocurrency exchanges and cybercrime divisions around the world are on the lookout this week after nearly $4 billion worth of Bitcoin seems to have been stolen by the founders of a South African Bitcoin exchange and has also been laundered through various channels.

Bitcoin transactions provide more anonymity to senders and recipients of money as, while the transactions all form part of a large ledger, the wallet addresses of those involved in transactions do not contain identifiable details.