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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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Bill aims to protect victims in NH from crypto ATM scams

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Bill aims to protect victims in NH from crypto ATM scams

Victims scammed at cryptocurrency ATMs in New Hampshire could be reimbursed if they report the fraud within 14 days under a bill that cleared the Senate Thursday. The bipartisan legislation aims to stem an increase in cryptocurrency scams that cost Granite Staters $22 million in 2024.

A crypto scam plays out like most financial fraud, except the scammer persuades the victim to deposit cash into a cryptocurrency ATM. Once the ATM converts the money into cryptocurrency, it becomes very difficult to trace and reclaim.

Hampton’s police chief told lawmakers just over $2.6 million was lost to scammers in his town in 2024. The average age of the victims was 66.

Sen. Virginia Birdsell, a Hampstead Republican, urged colleagues to pass the legislation in the Senate Thursday.

“This is becoming a scourge on our elderly,” she said.

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Under the bill, cryptocurrency ATM operators would have to hold a person’s first deposit for 48 hours to give them time to cancel it if they detect a scam. Operators could not accept more than $2,000 a day from a person. And operators would have to refund a scam victim if the victim reports fraud to the operator and authorities within 14 days.

Nearly 25 other states have similar laws, though many allow a victim to be funded within 90 days of a deposit.

Massachusetts is suing a crypto ATM operator, Bitcoin Depot, for allegedly allowing criminals to scam victims with its machines. Maine reached a $1.9 million settlement with the same operator this year and is giving victims until Wednesday to file a claim.

The New Hampshire bill heads next to the House.

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Crypto ATM Count Falls to 38,928 as 597 Machines Exit the Market in Q1 2026

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Crypto ATM Count Falls to 38,928 as 597 Machines Exit the Market in Q1 2026

Crypto ATM Data 2026: 597 Net Removals

Recent figures show the global count of crypto ATMs edged close to the 40,000 mark this month, yet data recorded on March 29, 2026, reveals a net reduction of 769 machines. The year opened with a drop of 139 crypto ATMs, followed by the addition of 231 new installations in February.

An additional 80 units were installed at the beginning of March, according to Coin ATM Radar’s net growth logs, though the removal of 769 machines ultimately pushed the year’s total to a net loss of 597. As of this weekend, the global tally of crypto ATMs sits at 38,928 machines. Geographic data from Coin ATM Radar shows the U.S. holds 30,247 of those units, representing 77.7% of the total.

Image source: coinatmradar.com

Canada follows with 3,839 crypto ATMs, accounting for 9.9% of the worldwide figure. Europe maintains 1,727 machines, or roughly 4.4% of the overall count of 38,928. Taken together, the U.S., Europe, and Canada host 35,813 machines, comprising 92% of the global share. The remaining 8% is distributed across Asia, Oceania, and other regions.

The crypto ATM tracking site further indicates that the top ten global operators collectively oversee 30,450 machines, representing 78.2% of the total. The industry’s leading provider is Bitcoin Depot, which runs a commanding 9,246 machines (23.8% market share). It is followed by Coinflip with 5,493 machines (14.1%) and Athena Bitcoin with 4,045 machines (10.4%).

Rockitcoin holds a solid footprint with 2,757 machines (7.1%), while Bitstop and Margo operate 2,372 (6.1%) and 2,138 (5.5%) machines, respectively. Stats further show that bitcoin ( BTC) remains the most widely supported asset, available across nearly all machines tracked worldwide by Coin ATM Radar.

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Following bitcoin, altcoins as a collective category are supported by 38,910 machines, suggesting that nearly every ATM offering bitcoin also includes at least one alternative asset. Among individual altcoins, ethereum ( ETH) leads with support at 22,200 locations, closely followed by litecoin ( LTC) at 21,292 and tether ( USDT) at 19,894.

Roughly 91.6% of crypto ATMs are configured to facilitate cryptocurrency purchases, while the remaining machines support both buying and selling of digital assets. Logs from Coin ATM Radar offer a revealing snapshot of recent crypto ATM reductions in 2026, showing that the 40,000 threshold remains just out of reach for the industry at present.

Whether the crypto ATM count clears 40,000 this year depends largely on whether operators expand or continue pulling machines. The numbers show a market sorting itself out; large providers like Bitcoin Depot, Coinflip, and Athena hold the majority of installations, while smaller operators account for the gap. With North America controlling over three-quarters of the global count, the industry’s direction remains tied closely to conditions in a single market.

FAQ 🔎

  • How many crypto ATMs are there in the world in 2026? As of March 29, 2026, Coin ATM Radar tracks 38,928 active crypto ATMs globally.
  • Which country has the most Bitcoin ATMs? The United States leads with 30,247 machines, representing 77.7% of the worldwide total.
  • Who is the largest crypto ATM operator in 2026? Bitcoin Depot operates 9,246 machines, giving it a 23.8% share of the global market.
  • What cryptocurrencies do crypto ATMs support? Bitcoin is available at nearly all machines, with ethereum supported at 22,200 locations and litecoin at 21,292.
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Is Crypto Legal in Norway? EY Explains the Regulations

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Global Legal Insight publishes a yearly print-and-digital series that investigates urgent themes in business and law with contributions from legal experts worldwide. In the 2025 volume on Blockchain and Cryptocurrency, Ernst & Young Tax and Law Norway wrote the country chapter, which addresses whether cryptocurrency is lawful in Norway and surveys how cryptoassets are positioned domestically under Norwegian regulation.

Norway generally permits cryptoasset ownership and trading, while placing the strongest compliance expectations on intermediaries that exchange, safeguard, or facilitate transfers for others.

Cryptocurrency Regulation in Norway: Institutions and Policy Signals

The chapter presents perspectives from the Financial Supervisory Authority of Norway, the Ministry of Finance, and the Norwegian Central Bank on current market conditions and responsible approaches to a fast‑moving sector. It also distills the operative legal framework and key tax rules for digital assets. In practice, the Financial Supervisory Authority of Norway is the primary supervisory body for many compliance questions that arise when a business provides crypto-related services (for example, exchange services or custody-like safeguarding for clients), while tax reporting and assessment are handled by the Norwegian Tax Administration.

For crypto businesses, the most relevant requirements typically relate to anti-money laundering compliance, including customer due diligence, transaction monitoring, and internal controls. Businesses that provide exchange services between cryptoassets and fiat currency, or that provide services for holding or administering cryptoassets on behalf of others, may need to register with the Financial Supervisory Authority of Norway before offering services, and should be prepared to document ownership and management, governance arrangements, risk assessments, routines for customer checks, and recordkeeping. If you are looking for a “crypto license” in Norway, the practical path is usually a registration-based process tied to anti-money laundering obligations rather than a single, universal license for all crypto activity.

Legal Status and Compliance Overview

This piece is a practical reference for readers seeking clarity on how Norway governs crypto asset activity. It delivers a concise, trustworthy roundup of regulation in Norway, touching on consumer protection and practical themes for participants in digital finance. For individuals, that often means understanding which activities are permitted, how to document transactions, and which authorities oversee intermediaries versus taxation.

From a consumer-use perspective, self-custody wallets such as Trust Wallet are generally available in Norway through standard app distribution channels, and individuals commonly use them as they do in other markets. Using a self-custody wallet does not typically require registration by the individual, but it does not remove tax obligations or documentation expectations; users should keep clear records of purchases, transfers, swaps, and disposals so gains, losses, and income can be reported correctly. Some banks and payment providers may apply their own risk controls around transfers to and from crypto platforms, so users may encounter practical friction even when the underlying activity is lawful.

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PayPal availability for purchasing Bitcoin in Norway depends on the specific service route. Some crypto platforms may support PayPal-funded purchases or deposits in certain cases, but many do not due to chargeback and fraud-risk controls, and availability can vary by provider and user verification status. Where PayPal is supported, users should expect identity checks, potentially higher fees, and limits that depend on the platform’s compliance and risk settings.

To buy Tether in Norway, individuals typically use a crypto exchange or broker that lists the stablecoin and supports onboarding for Norwegian residents. The usual flow is to complete identity verification on the platform, fund the account using the supported payment method (commonly bank transfer or card, depending on the provider), and then place an order for the stablecoin. Practical banking considerations can matter, including a bank’s willingness to process payments to particular platforms and the platform’s own requirements for source-of-funds information.

Bitcoin mining is generally lawful in Norway, but it can trigger ordinary business, tax, and local compliance considerations depending on scale (for example, zoning, noise, and commercial electricity arrangements). Norway’s electricity pricing is market-based and can be attractive in some regions, but miners should not assume dedicated government subsidies specific to crypto mining; any favorable power costs typically come from standard industrial contracts, local grid conditions, or general schemes that are not exclusive to mining and may change based on policy and eligibility criteria.

On taxation, cryptoassets are generally treated as taxable assets in Norway, and taxpayers are expected to report disposals and income tied to crypto activity. As a rule of thumb, gains and losses on sales, exchanges between cryptoassets, and spending crypto can be taxable events, while income-like receipts (such as rewards that function like compensation or yield) may be taxed when received, with later disposal potentially creating an additional gain or loss based on value changes. The applicable tax rate will typically follow the ordinary income tax rate for individuals, and accurate recordkeeping is essential for cost basis, acquisition dates, fees, and fair value at the time of each taxable event.

Legal ways to reduce crypto-related taxes in Norway tend to be documentation- and planning-driven rather than loophole-driven. Common approaches include ensuring all allowable losses are captured and reported, deducting eligible transaction costs where permitted, maintaining consistent cost-basis tracking so gains are not overstated, and planning disposals with an eye to offsetting gains with realized losses when that matches the taxpayer’s broader financial situation. For higher-activity traders or mining operations, it can also be important to assess whether the activity resembles a business in substance, since that can affect how income, expenses, and reporting are treated under Norwegian rules.

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