Walker makes shocking $174 million find on beach

An investigation is underway after a walker casually stumbled upon more than A$174 million worth of cocaine.

A man, who wished to remain anonymous, was going for an early-morning walk on Saturday when he spotted 30 black bags washed up on Tan-y-Bwlch beach in Wales, ITV reports.

After taking a closer look, the man noticed the bags were all tied together with rope, with empty plastic bags entwined in what appears to be an attempt to keep them afloat.

"I was intrigued and walked up to it and knew what it was almost straight away," the walker said, ITV reports.

"An old lady called the police and they came around half an hour later.

"They cut open a bag and it looked like pure cocaine. They dragged it off the beach and took it away."

Following the discovery, Heddlu Dyfed-Powys Police confirmed on Facebook that they are "investigating the discovery of a significant quantity of what is thought to be cocaine", spotted along the Ceredigion coast.

"Enquiries are being undertaken to establish how such an unusually large amount of the controlled drug came to wash up on the Welsh shore, following recent storms," the police department said.

While the precise quantity has yet to be established, the Metro reports the haul is believed to be worth just over A$174 million.

So far, police have not arrested anyone, however it is alleged that the drugs were set to be picked up by a UK-based gang, the Metro reports. But because of the weather, the packages didn't make it to the correct location.

Police said with more storms predicted this week, they will be monitoring the water for further packages still at sea.

"Work is ongoing to establish how the bundles came to land ashore here and who they may belong to," Heddlu Dyfed-Powys Police said on Tuesday.

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Locals react to large cocaine haul

Locals have expressed shock after hearing a large amount of cocaine was found in the area.

"We've never heard of anything like this in Aberystwyth," dog walker, Eirian Parry, told the BBC.

"To be honest if it is drugs, and that amount of drugs, it's very worrying."

Dai Harries said he too was surprised, but acknowledged the "history across the west of Wales of this sort of thing happening before".

The National Crime Agency, based in the UK, is working together with Heddlu Dyfed-Powys Police as they continue their investigation.

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