USA Bitcoin Confiscation Total Nears 200,000 BTC as Worldwide Tally is Over 450,000 Coins Seized

2018-11-8 00:50

According to a recent study, the total amount of Bitcoin seized is 2.6% of the circulating supply. However, how is that possible for governments to seize Bitcoin when they require the private key of the funds? Well, it seems that several individuals and criminals did not follow the best practices to store their Bitcoins.

A few weeks ago, a news article about the number of Bitcoins seized by the U.S. government spread on social media. According to it, the government of the United States has more Bitcoins than anyone else in the world. This article was based on an article from December 2013.

Indeed, back in 2013, the government of the United States controlled over 174,000 BTC. Most of them were seized from Ross Ulbricht, the individual in charge of the Silk Road marketplace that was very popular years ago.

Part of the funds related to the Silk Road has been auctioned off in June 2014. The popular and recognized investor Tim Draper was able to get these BTC. Another portion of these funds has been auctioned off as well later in September 2017.

Although the United States owns Bitcoins, it does not have the large amount many individuals think it has. As per the report, the U.S. government owns, at least, 4,100 BTC, but no more than 10,000 BTC. During the last years, the U.S. government seized 198,000 from over 100 different federal criminal administrative cases.

Nevertheless, 98% of these BTC were sold. As per the report, each BTC was sold for a price of $780 dollars.

Back in May, the Southeast European Law Enforcement Center informed that over 200,000 BTC were found by the Bulgarian authorities. An illegal group invested the money they had from illegal activities in Bitcoin. However, the head of the Bulgaria Special Prosecutor's Office clarified that they did not seize any Bitcoin.

If these funds from the Bulgarian criminal group were seized, the amount of Bitcoin seized around the world would reach 453,000 BTC. That means that 2.6% of the total circulating supply could have been seized. Nevertheless, most of the BTC seized were from the two aforementioned cases, the Silk Road and from the Bulgarian criminal group.

origin »

Bitcoin (BTC) на Currencies.ru

$ 101142.08 (-0.08%)
Объем 24H $26.329b
Изменеия 24h: -0.94 %, 7d: -3.80 %
Cегодня L: $101111.61 - H: $101508.43
Капитализация $2004.461b Rank 1
Цена в час новости $ 6412.48 (1477.27%)

bitcoin seized total well seems funds require

Источник: bitcoinexchangeguide.com

bitcoin seized → Результатов: 58


Confiscation of Bitcoin ATMs in Russia Leads to Outcry from Local Operator

A Russian cryptocurrency company is fighting back against Russian authorities who, according to the company, illegally seized twenty-two Bitcoin ATMs operating throughout the country. Details of the Seizure BBFpro, a Russian company that services Bitcoin ATMs in Russia, is not experiencing the best of times, as Russian authorities have seized twenty-two of its ATMs.

2018-9-5 23:47


Russian Authorities Confiscate 22 Crypto ATMs, Company To Appeal

Police in Russia have seized 22 crypto ATMs installed in shopping malls, restaurants, and stores across nine cities. According to Sarkis Darbinyan, a lawyer from Digital Rights Center (DRC) who is representing the affected company in the legal case, all the machines are operated by Bbfpro, a company with a network of Bitcoin ATMs across […] The post Russian Authorities Confiscate 22 Crypto ATMs, Company To Appeal appeared first on ZyCrypto.

2018-9-4 17:11


Bitcoin [BTC] worth $1.7 million seized in the UK, police close in on criminals

Police in the United Kingdom [UK] has become the first law enforcement agency to seize and convert Bitcoin seized from criminals. On 19th July, the Surrey Police force became the first UK law enforcement force to seize illegal cryptocurrency and convert it into pounds and then retain them in a designated government location. Reports by the […]

2018-7-22 10:53


Donald Trump Retweets News of Arrests of Darknet Illicit Goods Vendors – 2000 Bitcoins [BTC] Seized

The President of the United States is known for his use of social media to raise awareness on topics important to him and bypass what he calls “fake news.” So when President Trump retweeted the news of law enforcement agencies arresting 35 dark web vendors across the country, one can rest assured that it was […] Donald Trump Retweets News of Arrests of Darknet Illicit Goods Vendors – 2000 Bitcoins [BTC] Seized was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-6-30 16:19


Фото:

$5.2 Million in Cryptocurrency Seized in EU’s Largest LSD Raid

European law enforcement agencies dismantled a Darknet drug trafficking network, seizing almost 800,000 doses of LSD and over $5 million in Bitcoin, IOTA, and Lumens. The Infamous ‘Darknet’ The Deep Web or the “Darknet” gained a lot of notoriety back in 2013 when the United States FBI took down the Internet’s largest online black market and drug trafficking ring known as The Silk Road after an extended manhunt for the site’s libertarian creator, Ross William Ulbricht.

2018-6-30 10:00


дальше еще 9 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum's February prediction - Why traders should watch out for MVRV's dip

Ethereum’s February performance may follow historical bullish trends, but risks are emerging MVRV decline pointed to potential selling pressure, requiring close monitoring for future price moThe post Ethereum's February prediction - Why traders should watch out for MVRV's dip appeared first on AMBCrypto.

XRPL AMMClawback upgrade goes live - Effect on XRP's price will be...

XRPL has introduced AMM pools for Ripple's USD (RLUSD) XRPL AMMClawback enhances the layer-1 network by eliminating traditional order blocks XRPL AMMClawback upgrade goes live After months The post XRPL AMMClawback upgrade goes live - Effect on XRP's price will be... appeared first on AMBCrypto.