Authorities in Australia announced the record-breaking bust on Monday. Australian authorities seized over two tons of cocaine over the weekend worth nearly $500 million after the fishing boat that smugglers used to sail the drugs into Australia broke down — the largest ever seizure of cocaine in Australia.

Australian Police have seized 2.3 tonnes of cocaine from a broken-down boat off the coast of Queensland, authorities said on Monday. Eleven men and two juveniles were arrested, including the vessel's crew and others waiting on the shore to collect the illegal shipment.

Police have made the largest cocaine seizure in Australian history following an investigation into a transnational organised crime syndicate accused of conspiring to import more than two tonnes of the drug into Australia.

Australian police seized the country’s largest haul of cocaine aboard a fishing boat that had broken down near the coast of Queensland, arresting 13 people alleged to be part of a drug-smuggling syndicate.

Australian authorities have seized 2.3 tonnes of cocaine off Queensland’s coast, making it the largest cocaine bust in Australia's history.

Australian police have seized a record 2.3 tonnes of cocaine worth nearly $500 million after the vessel carrying it broke down.

The cocaine, which has an estimated street value of $760 million, was seized after the boat it was on broke down.

The drugs have been valued at an estimated A$760 million ($490mn), which could have been distributed across 11.7 million street deals