The accused were further alleged to have collected proceeds from drug sales in bitcoin between November 2013 and June 2017, which were seized by law enforcements.
This is not the first time that U.S. authorities have seized bitcoins (or other cryptocurrencies) during a darkweb crackdown.
Notably, the U.S. government forfeited bitcoins from the founder of the defunct darkweb marketplace Silk Road and subsequently auctioned 80,000 bitcoins from 2013 to 2014.
Marshals Service also held an auction of more than 3,800 bitcoins (worth $51 million) – the first since the sale of 2,700 bitcoins in 2016.
Meanwhile, in another indictment in March, the U.S. government was also looking to confiscate 500 bitcoins after charging four individuals for creating fake identification documents.
The French government will auction 611 bitcoins that were seized from hackers next week. There will be two sales comprised of 478 lots altogether. Each lot consists of between 0. 11 and 20 bitcoins.
Finland’s customs officials have revealed plans to sell 1,981 bitcoins that were seized mainly in connection with drug trafficking-related criminal investigations. The majority of the confiscated bitcoins (1,666) are from the Douppikauppa case, the darknet operator who was arrested in 2016.
Authorities in Italy have seized bitcoins from the company wallets of controversial exchange BitGrail as part of standard pre-bankruptcy proceedings. BitGrail was hacked in February 2018, with $170 million dollars’ worth of Nano stolen — which subsequently lead to a major price crash for the coin.
Tim Draper is a billionaire investor. He was an early investor in Hotmail, Skype, and Tesla and is credited with inventing viral marketing. Tim Draper also buys the dips. A lot of attention was brought to the world of cryptocurrency when Draper purchased thousands of Bitcoins that were seized from the infamous dark web marketplace […]
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