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Dark web drug ‘boss’ Michael Kustic alleged to have been busted with millions in illegal products and cryptocurrency in ACT’s ‘largest ever’ haul

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Dark web drug ‘boss’ Michael Kustic alleged to have been busted with millions in illegal products and cryptocurrency in ACT’s ‘largest ever’ haul

An alleged war chest of drugs and cryptocurrency has been found at homes linked to a man alleged to be the ring leader of a drug syndicate.

Michael Adam Kustic, 39, was arrested at his home in Googong, NSW, near Canberra  on December 8 and slapped with 40 charges related to participating in what is believed to be the largest drug ring in the Australian Capital Territory’s history.

He was extradited to the ACT alongside two other men, Thomas Kelleher, 38, and James Martens, 27, who were arrested at a home in Gordon, west of Melbourne, during the sting.

Kustic was refused bail for the second time while facing ACT Magistrates Court on Thursday and is yet to enter a plea for dozens of charges.

Police revealed in court that among the alleged 68,000 items seized during the raids was about $5.5million in drugs and about $2.3million in cryptocurrencies.

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A man alleged to be part of a massive illegal prescription drug ring has been arrested at a home in Googong, near Canberra, and slapped with 40 charges (pictured, pills found at the home)

The charges Kustic is yet to enter a plea for include trafficking of a commercial quantity of a controlled drug, participating in a criminal group, multiple counts of fraud, and supplying anabolic steroids. 

More charges could be laid on Kustic and the other two men after all of the drugs allegedly found at the homes are fully tested.

However the process could take between 12-18 months due to the large amount of substances allegedly seized.

An acting sergeant told the court on Thursday that ACT Police’s drugs and organised crime team had ‘never had a seizure of this quantity’, the Canberra Times reports.

Police allege that Anabolic steroids, human growth hormones, cannabis oil, Xanax and psilocybin – the active chemical in magic mushrooms – were found at the homes.

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The group is alleged to have used the moniker ‘OzPharmLabs’ online to sell the drugs nationwide through Australia Post.

The sergeant also told the court that an image on Kustic’s phone showed a Trezor cryptocurrency wallet which showed a balance of $2.8million when police plugged the device into a laptop.

A house, five vehicles, three motorcycles and a number of designer goods and electronic devices were also seized during the raids.

Michael Adam Kustic, 39, was extradited to the ACT alongside two other men after anabolic steroids, Xanax and human growth hormones were allegedly found at the home

Michael Adam Kustic, 39, was extradited to the ACT alongside two other men after anabolic steroids, Xanax and human growth hormones were allegedly found at the home

Five vehicles were also seized during the raids

One of the vehicles was a luxury BMW

Police also seized five vehicles – one of which was a luxury BMW – as well as a number of designer goods and electronic devices

However, police are still yet to gain access to the password-protected electronic devices and multiple cryptocurrency wallets.

Kustic’s defence barrister, James Maher, told the court that police concerns that his client would access the wallets if released on bail were purely speculative.

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Prosecutor Morgan Howe rebutted Mr Maher’s comments, saying Kustic was yet to grant police access to certain devices.

‘It demonstrates non-compliance with what is a very important court order,’ Mr Howe said.

While refusing Kustic’s bail application, Magistrate James Lawton warned police to pick up the pace of investigations.

‘At some point the court has to say you’ve been given enough time,’ Mr Lawton said.

Three motorcycles were also seized (pictured, a seized Harley Davidson)

Three motorcycles were also seized (pictured, a seized Harley Davidson)

Kustic was remanded in custody and is expected to face ACT Magistrates Court again on March 28. 

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Kelleher and James have both been hit with 20 charges and are expected to appear in ACT Magistrates Court on February 29 and March 28, respectively.

Detective Inspector Mark Steel told the media the day after the raids that the group were likely responsible for a significant portion of Australia’s illegal prescription drug market.

‘These three men were allegedly running a sophisticated, coordinated and deliberate illegal business with the sole goal of illicit profit,’  Detective Inspector Steel said.

‘ACT Policing and Victoria Police have coordinated their investigation and resolution activity and this should serve as a warning to anyone seeking to profit from illegal activities.

‘If you are operating across borders you will face the combined efforts of multiple law enforcement agencies. We will arrest you, seize your assets and put you before courts to face significant criminal charges.’

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The Cryptocurrency That Could Be About to Explode 1,000% | The Motley Fool

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The Cryptocurrency That Could Be About to Explode 1,000% | The Motley Fool

This tiny AI coin could be ready to skyrocket in 2026.

It’s slim pickings in the crypto market right now, with nearly every cryptocurrency down 25% or more over the past 90 days. But if you’re willing to dig for bargains and hold your nose at the same time, it’s possible to come up with some potential blockbuster plays for 2026.

My favorite pick right now is Artificial Superintelligence Alliance (FET 0.25%), down 68% over the past 90 days, and more than 80% for the year. This is exactly the type of beaten-down cryptocurrency that could be ready to explode higher by 1,000% or more over the next 12 months.

Rules for picking 1,000% winners

In order for any cryptocurrency to soar 1,000% or more within a relatively short period of time, it needs to meet a few key criteria. First of all, it needs to be dirt cheap — that’s the only way to attract speculative retail money. So, as a first cutoff, let’s narrow our search to beaten-down cryptos trading for $1 or less.

Second, the cryptocurrency needs to be in a red-hot sector or backed by a red-hot investment thesis. Within the blockchain and crypto world, there are plenty of potential hot ideas to choose from, including real-world asset tokenization, stablecoins, and decentralized finance (DeFi).

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But let’s face facts here: If you try explaining real-world asset tokenization or stablecoins to your friends and family over the winter holidays, you’ll probably be met with a very frosty reception. The investment narrative needs to be easy to grasp and easy to explain. And I can’t think of a better one right now than artificial intelligence (AI).

Image source: Getty Images.

So let’s further narrow our search down to so-called AI coins. This was once a red-hot category, and includes some major names like Bittensor, Render, and Artificial Superintelligence Alliance (FET 0.25%).

The case for buying Artificial Superintelligence Alliance

Of these AI coins, the only one that’s trading for less than a buck right now is Artificial Superintelligence Alliance (the cryptocurrency formerly known as Fetch.ai). It has a super-low discount price of $0.20 — almost as cheap as some meme coins. In order for FET to explode in price by 1,000%, all investors need it to do is hit a price of $2.20.

Fetch Stock Quote

Today’s Change

(-0.25%) $-0.00

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Current Price

$0.21

Thankfully, it has already done that in the past. In March 2024, Artificial Superintelligence Alliance hit an all-time high of $3.47. So, getting back to a price level of $2.20 may not be as insurmountable as it seems at first.

Moreover, the crypto (via the involvement of Fetch.ai in the alliance) is at the forefront of the hot new field of agentic AI, so there’s plenty of long-term growth potential.

Just keep in mind that there’s a big reason the price of Artificial Superintelligence Alliance has cratered by nearly 95% over the past 18 months. Simply put, investors have given up on the “alliance” that was supposed to create the world’s foremost AI coin.

The multistep merger process that was supposed to result in a single token called ASI has gone on much longer than expected. It has also been much messier than many people expected. In October, Ocean Protocol — one of the three big AI players involved — finally pulled out of the alliance, and that sent the price of FET tumbling.

What can investors expect in 2026?

As recently as December 2024, the price of Artificial Superintelligence Alliance was around $2. That’s why I’m optimistic about a potential rebound in price in 2026. Crypto traders have likely overreacted and are now dumping this AI coin indiscriminately.

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That being said, a 1,000% surge in price is by no means guaranteed. It’s quite possible that the price of Artificial Superintelligence Alliance could go to zero. So, buckle up now if you plan to invest in this AI coin — the path ahead is likely to be filled with turbulence and stomach-churning moves up and down.

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China Discovers ‘Largest’ Undersea Gold Deposit in Asia as State Mining Ambitions Expand

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China Discovers ‘Largest’ Undersea Gold Deposit in Asia as State Mining Ambitions Expand
China says it has uncovered Asia’s largest undersea gold deposit, a massive offshore find that strengthens domestic supply, reshapes regional resource rankings, and highlights Beijing’s accelerating push to secure strategic minerals.
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North Korean hackers allegedly stole record $2.02 billion of cryptocurrency in 2025. Here’s how they did it | Stock Market News

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North Korean hackers allegedly stole record .02 billion of cryptocurrency in 2025. Here’s how they did it | Stock Market News

North Korea remains dominant threat to cryptocurrency security in 2025, even while confirmed incidents have decreased, according to a report by blockchain analytics company Chainanlysis.

Hackers from the Democratic People’s Republic of Korea (DPRK) allegedly stole a record $2.02 billion of crypto this year — a 51% jump compared to 2024, and taking their all-time total to $6.75 billion, it added.

The analysis further found that the DRPK is achieving larger thefts with fewer incidents, using unique methods to gain access and pull off their heists.

North Korea’s alleged crypto heists: Here’s how they did it

As per the report, these hacks were often carried out in unique fashion by embedding IT workers inside crypto services or using sophisticated impersonation tactics targeting executives.

Embedding IT workers

This is among the DPRK’s “principal attack vectors”, the report said. It added that the hackers secured jobs inside crypto services to gain privileged access and enable high‑impact compromises.

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“Part of this record year likely reflects an expanded reliance on IT worker infiltration at exchanges, custodians, and web3 firms, which can accelerate initial access and lateral movement ahead of large‑scale theft,” it noted.

Fake jobs

Further, taking the IT worker model and “flipping it on its head”, the analysis said that DPRK-linked operators are also increasingly impersonating recruiters for prominent web3 and AI firms. This way, they orchestrate fake hiring processes that culminate in “technical screens” designed to harvest credentials, source code, and VPN or SSO access to the victim’s current employer.

“At the executive level, a similar social‑engineering playbook appears in the form of bogus outreach from purported strategic investors or acquirers, who use pitch meetings and pseudo–due diligence to probe for sensitive systems information and potential access paths into high‑value infrastructure,” it added.

Higher- value attacks

Over the years, DPRK-linked operators are increasingly undertaking significantly higher-value attacks compared to other threat actors. “This pattern reinforces that when North Korean hackers strike, they target large services and aim for maximum impact,” the report added.

It noted that “this year’s record haul came from significantly fewer known incidents”, including the massive $1.5 billion Bybit hack in February 2025.

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DPRK’s distinctive laundering patterns

Not just the hacking process, the laundering of stolen funds is also distinctive, the report said. It noted that more than 60% of laundering was of volume concentrated below $5,00,000 transfer value tranches, despite the total stolen amounts being larger.

“Even while the DPRK consistently steals larger amounts than other stolen fund threat actors, they structure on-chain payments in smaller tranches, speaking to the sophistication of their laundering,” it added.

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