Yes, the police can steal anything from you that they want. They do not need to arrest you or charge you with a crime, or even show evidence that a crime even occurred. The burden of proof is on you that you didn't break any laws. The idea is that they're charging your property with a crime, not you, and since your property is not a person it has no rights.

The US Supreme Court has ruled that this kind of asset forfeiture is constitutional.