Image by Freepik

FBI seized $1.7 million crypto between March and July

Image by Freepik
In a recent news the FBI revealed that in the period between March and July this year they confiscated cryptocurrencies valued at more than $1.7 million due to violations of federal law. The agency cited federal forfeiture as the reason for the seizure of these assets.

Among the assets taken, the biggest portion, approximately $800,000, existed in the Ethereum (ETH). The largest seizure occurred in the Eastern District of Virginia, where Ethereum (ETH) worth $463,811 was confiscated. Among all the states in the United States, Florida and Virginia saw the most substantial confiscations of cryptocurrency assets.

A fun observation is the inclusion of meme-coins such as $200 worth of Dogecoin, within the confiscated assets. The FBI's persistent work to address alleged unlawful actions within the realm of digital assets are evident through the assortment of various cryptocurrencies in their possession.

The information provided in the FBI's documentation shows that a significant portion of the cryptocurrency confiscations were linked to accounts on Binance, with a total of 46 instances being documented. The frequency of seizures involving Binance accounts creates inquiries into the interactions between law enforcement agencies and specific exchanges. This situation implies a multifaceted interaction encompassing platform regulations, user actions, and the monitoring efforts of law enforcement. 


How do you rate this article?


The Bunny world crypto flash news
The Bunny world crypto flash news

A blog dedicated to news about what is happening in the cryptosphere.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.