DOJ Plans to Seize $54 Million in Crypto Linked to Illegal Drug Ring
The US Department of Justice (DOJ) has revealed its intention to seize cryptocurrency worth millions of dollars that it alleges was obtained through the sale of illegal drugs. The DOJ has filed a forfeiture action against $54m in crypto assets that it claims can be traced back to an illegal drug ring. Christopher Castelluzzo, who is currently in prison, is accused of conspiring with others to sell illegal substances between 2010 and 2015. The DOJ alleges that he converted his earnings into digital assets, including 30,000 Ether during Ethereum's initial coin offering in 2014, which the government now wants to seize.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BlackRock’s Bitcoin ETF flips gold fund
SEC mulls approving Ethereum ETF options
Crypto mixer Bitcoin Fog founder receives 12.5-year prison sentence
Could XRP Reach $5, $10, or $20 in This Bull Run? Analysts Suggest a New Contender Might Lead!