A key figure in Australia's illegal cocaine trade scene was shot dead in a packed Sydney shopping area.

Australian media has confirmed convicted drug kingpin Alen Moradian was killed in the Bondi Junction carpark and the incident had the hallmarks of a targeted attack.

Australian correspondent Murray Olds says Moradian was a major player in Australia's crime network who served a decade in prison.

"Apparently back in the day, he surrendered a machine gun and a grenade launcher to get a reduced sentence."

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