seized crypto – DIGIT INFO

FBI Seizes $2.5M in Crypto From Thailand-Based Pig Butchering Scam Targeting Americans

DIGIT — Thu, 18 Jul 2024 23:30:48 +0000

The U.S. Attorney’s Office has launched a civil forfeiture action to reclaim cryptocurrency seized by the FBI from international fraudsters involved in “pig butchering” schemes. This initiative aims to return the stolen funds to victims and hold criminals accountable. “The rate at which bad actors are using elaborate pig-butchering scams to defraud innocent people is […]

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US Government to Report Seized Crypto as ‘Nonmonetary Property’

DIGIT — Sun, 23 Jun 2024 01:37:34 +0000

The Federal Accounting Standards Advisory Board (FASAB) has clarified that seized crypto assets should be treated as “nonmonetary property” while central bank digital currencies (CBDCs) should be treated as monetary instruments. The federal authority claims that cryptocurrencies “do not typically possess all monetary characteristics,” emphasizing that they “are not effective as a unit of account, […]

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Man Pleads Guilty to Stealing Bitcoin ‘Seized’ by US Government

DIGIT — Mon, 09 Jan 2023 03:30:41 +0000

An Ohio man has pleaded guilty to stealing over 712 bitcoin that was “seized” by the U.S. government in another criminal case. He has agreed to forfeit some bitcoin, ether, and dogecoin as part of his plea. “Due to the increase in market prices, the total value of these forfeitable properties exceeds $12 million,” said […]

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Cryptocurrency Worth $435 Million Seized by 12 UK Police Forces in Five Years

DIGIT — Sat, 08 Jan 2022 03:30:51 +0000

U.K. police have revealed how much cryptocurrency they have seized in the past five years in response to Freedom of Information requests. The London Metropolitan Police seized more bitcoins than other police boroughs. UK Police Reveal Information About Seized Crypto Twelve of the U.K.’s 43 police forces have seized cryptocurrency worth approximately £322 million ($435 […]

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German Prosecutors Hire Local Bank to ‘Clean’ Seized Crypto Worth $113 Million

DIGIT — Fri, 24 Dec 2021 04:30:31 +0000

German prosecutors have hired a bank to “clean” cryptocurrency seized in criminal cases. “As the cryptocurrencies are related to crime, they are considered ‘contaminated coins’ and cannot be traded on mainstream exchanges,” the bank said. Bank Hired to Clean Cryptocurrency Seized in Criminal Cases The anti-cybercrime unit of the Frankfurt General Prosecutor in the German […]

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DOJ Selling Cryptocurrency Seized From Bitconnect Worth $56 Million

DIGIT — Tue, 16 Nov 2021 22:30:51 +0000

The U.S. Department of Justice (DOJ) is selling cryptocurrency worth $56 million that was seized from the “number one promoter” of Bitconnect, the largest crypto fraud scheme ever charged criminally. Investors were fraudulently induced to invest over $2 billion. The Bitconnect promoter faces a maximum penalty of 20 years in prison. US Selling Crypto Worth […]

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Finland Looking for Brokers to Sell Seized Bitcoins Worth $80 Million

DIGIT — Fri, 30 Jul 2021 18:30:32 +0000

Finland’s customs authority is looking for brokers to sell 1,981 bitcoins seized in drug cases. The coins are currently worth nearly $80 million. Finland’s customs authority announced Thursday that it is seeking brokers to sell 1,981 bitcoins seized in drug busts, Bloomberg reported, noting that the coins were forfeited to the state by court order. […]

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Lithuania Rakes in 6.4 Million Euros From Selling Seized Cryptocurrencies

DIGIT — Wed, 25 Nov 2020 20:37:08 +0000

Lithuania’s tax authority has sold the cryptocurrencies it previously seized for 6.4 million euros (approximately $7.6 million). The three cryptocurrencies confiscated were bitcoin, ether, and monero. This was the first time the tax authority sold seized cryptocurrencies. Lithuania Sold Seized Cryptocurrencies The State Tax Inspectorate (STI) under the Ministry of Finance of the Republic of […]

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Chainalysis Launches Program to Store and Sell Seized Crypto Assets for Governments

DIGIT — Thu, 12 Nov 2020 23:30:36 +0000

The blockchain intelligence and surveillance company Chainalysis revealed the launch of a new program that aims to help governments and insolvency practitioners sell seized cryptocurrencies. The news follows the recent U.S. government seizure of more than 69,000 BTC worth over $1 billion on November 3. Blockchain surveillance firm Chainalysis announced the launch of a new […]

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RBI Ban Stops Indian Police From Cashing Out Seized Crypto

DIGIT — Fri, 04 Oct 2019 03:10:16 +0000

The effects of banking restrictions by the Reserve Bank of India (RBI) have reached an Indian police department. The police sold some cryptocurrencies they seized only to find out that they cannot access the Rs 8.42 crore (~$1.2 million) proceeds due to the current RBI banking ban. Also read: India’s Popular ‘Who Wants to Be […]

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