The US obtained $34 million in crypto from the dark web

In what the DOJ calls one of the largest crypto civil forfeiture filings in US history, the Southern District of Florida successfully seized approximately $34 million worth of coins and tokens from a seller on the dark web.

According to a recent release, illegal cryptocurrency was seized from a South Florida resident who used an online alias to sell more than 100,000 illegal items across markets on the dark web. The bulk of the sales are believed to be hacked account information from several major services including HBO, Netflix, Uber, and others.

Prosecutors from the Southern District of Florida said the resident used TOR (Onion Router) to access the dark web, before using a series of adapters to convert one cryptocurrency. to another cryptocurrency in order to conceal its source. This sequence of actions is often referred to as chain jumping and is considered a form of money laundering, which is clearly taboo at both the federal and state levels.

Ultimately, the proceeds of illegal sales were deposited in random increments at random times in designated crypto wallets, which were subsequently cleared by law enforcement. recall. From May 16, 2017 to June 19, 2017, authorities seized approximately 919.3 Ethereum, 643 Bitcoin, 640 Bitcoin Gold, 640 Bitcoin Cash, and 640 Bitcoin SV

The DOJ said the civil forfeiture filing was released as a result of Operation TORnado, a joint investigation by the Organized Drug Crimes Task Force (OCDETF) across multiple federal and state agencies. state and local.

However, while that $34 million (worth up to $47 million at a time based on court documents) is certainly a lot, given the growing popularity of cryptocurrencies, It almost certainly won’t be one of the biggest seizures in a long time.

All products recommended by Engadget are handpicked by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

Source link


News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button