The sum of ETH at the time of acquire was really worth only USD 9,000, but has at present greater to all-around USD 53 million, only to be confiscated by the US government.
The United States has seized $54 million really worth of cryptocurrencies from a banned narcotics trafficker
In a statement on November two, the US Federal Law Enforcement Agency stated it had seized $54 million in cryptocurrency from Christopher Castelluzzo, the leader of a notorious drug ring in New Jersey.
As a consequence, Christopher Castelluzzo and his accomplices operated the drug ring via dark sites this kind of as Silk Road and Blue Sky from 2010 to 2015, acquiring payments in cryptocurrency. This gang is believed to have distributed lots of medicines, together with cocaine and methylone, from China. After his arrest, Christopher admitted to offering $four million really worth of medicines just about every week.
The sum of ETH bought by Christopher at the time was really worth around USD 9,000. Furthermore, he also holds a variety of other coins this kind of as SOL, ADA and BTC with a smaller sized percentage. Since he was linked to unlawful pursuits, the US government froze this revenue. To date this sum of revenue was really worth up to $54 million.
FBI Newark Special Agent in Charge James E. Dennehy stated in the statement:
“Our action to seize $54 million should serve as a lesson to those who mistakenly believe we cannot monitor their illegal behavior or obtain their ill-gotten gains.”
The U.S. attorney’s workplace stated that even though Castelluzzo was serving a twenty-12 months prison sentence, authorities caught him speaking about his strategies to liquidate his cryptocurrency, together with his intention to evade taxes and come across a way to promote its cryptocurrency holdings stored in other nations.
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