The Australian Federal Police said it restrained the crypto assets after a digital forensic dive into devices owned by the Narwee man, who was arrested on September 17.
It’s alleged Jay Je Yoon Jung, 32, created Ghost for the sole purpose of criminal activity.
The $9.3 million in cryptocurrency was transferred into secure AFP crypto storage as the investigation continues.
Jung was charged with five offences as part of the AFP’s Operation Kraken, including supporting a criminal organisation and fraud.
The AFP claims the accused Ghost mastermind was 23 when he launched the network and began building encrypted devices that prevented messages from being intercepted by authorities.
The dedicated encrypted communications devices (DECDs) are believed to be “a cut above” regular encrypted platforms like WhatsApp and Signal.
The mastermind allegedly sold his DECDs for about $2350, using a network that vetted new Ghost users before they were allowed into the system.
There are believed to be more than 600 active Ghost phones around the world, including about 400 in Australia.
Results from Operation Kraken have included 46 arrests and more than $11 million in assets restrained.
The $9.3 million is the second restraint of assets linked to Operation Kraken, after assets linked to a syndicate in WA were seized in September.
Scott Raven, AFP acting commander, said organised crime groups who tried to hide profits of illicit activities will always be caught.
“Whether you have tried to hide them in real estate, cryptocurrency or cash, we will identify your ill-gotten goods and take them away from you, leaving you with nothing,” he said.
