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Revision of estimated street value for seized cocaine in Australia by end of 2024?
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Official statements from Australian authorities or credible news outlets
Story
Australia Seizes Record 2.34 Tons of Cocaine Worth $500M, Linked to Motorcycle Gang
Dec 2, 2024, 12:00 PM
Australian authorities have conducted the largest cocaine seizure in the country's history, confiscating 2.34 metric tons of the drug from a fishing boat that broke down off the coast of Queensland near K'gari (Fraser Island). The operation, which involved the Australian Federal Police, led to the arrest of 13 individuals. The cocaine, reportedly picked up from a 'mothership,' has an estimated street value of nearly $500 million. The fishing boat, linked to a motorcycle gang, broke down during the smuggling attempt, leading to its interception. This record-breaking bust highlights the scale of international drug trafficking operations targeting Australia.
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