Health regulators seize almost £4m worth of Bitcoin in war against illegal online medicine sales

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.

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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 with an estimated street value of £40m.

Most common were erectile dysfunction meds, with 5.5million doses taken off the market.

Head of enforcement Andy Morling said: “This is almost exclusively an online trade now.

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“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.”

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Government departments can now sell crypto­currencies seized from offenders.

Chancellor Rachel Reeves has been told a monster haul of Bitcoin taken from money launderers in 2021 and now worth over £5billion should be used to boost government funding.

The MHRA also raided crooks’ bank accounts and took expensive cars and watches paid for with dirty money.

Mr Morling added: “Buying medicines from unverified sources risks your health as there is no guarantee that the products are safe or effective.

“We work tirelessly to protect patients by preventing medicines crime, disrupting it, and bringing offenders to justice.”

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.”