Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

admin
Pinned April 21, 2022

<> Embed

@  Email

Report

Uploaded by user
$34
DOJ seizes $34 million of crypto from the dark web seller
<> Embed @  Email Report

DOJ seizes $34 million of crypto from the dark web seller

DOJ seizes $34 million of crypto from the dark web seller

The DOJ claims this is one of the largest cryptocurrency forfeiture actions ever filed.

Sam Rutherford
S. Rutherford
April 4th, 2022
DOJ seizes $34 million of crypto from the dark web seller | DeviceDaily.com
Matt Cardy via Getty Images

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

According to a recent release, the illicit crypto was seized from a South Florida resident who used an online alias to sell more than 100,000 illicit items across marketplaces on the dark web. The bulk of the sales is said to be hacked account info from a number of major services including HBO, Netflix, Uber and others.

Prosecutors from the Southern District of Florida say the resident used TOR (The Onion Router) to access the dark web, before using a series of tumblers to convert one cryptocurrency to another in order to hide its source. This series of actions is often called chain hopping and is considered a form of money laundering, which obviously a big no-no at both the federal and state levels. 

Eventually, proceeds from the illicit sales were deposited in random increments at random times in designated crypto wallets, which were later recovered by law enforcement. Between May 16th, 2017 and June 19th, 2017, authorities seized approximately 919.3 Ethereum, 643 Bitcoins, 640 Bitcoin Gold, 640 Bitcoin Cash and 640 Bitcoin SV

The DOJ says the civil forfeiture filing comes as a result of Operation TORnado, which is a joint investigation by the Organized Crime Drug Enforcement Task Forces (OCDETF) across multiple federal, state and local agencies.

However, while that $34 million sum (which was worth as much as $47 million at one point based on court docs) is certainly a lot, given the growing popularity of crypto, it almost certainly won’t be one of the largest seizures for long. 

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics   

(36)