On August 16, it was publicly announced that the Federal Bureau of Investigation (FBI) had seized various cryptocurrencies from wallets in the past few months. Notably, the filing also reveals the seizure of three major cryptocurrencies: Ethereum, Bitcoin, and Tether. Various items were even seized, including weapons, sneakers, and clothing, among other items listed. Here are the details…
FBI takes over Ethereum, Bitcoin and Tether
In the Eastern District of Virginia, authorities seized 428.5 Ethereums from four wallets at the time of enforcement, with a total value of approximately $800,000. One of these seizures alone amounted to $463,811. Considering that these seizures took place in April and May, there has been minimal fluctuation in the value of Ethereum. At current market prices, a total of 428.5 Ethereum would be worth around $782,000 today. According to the August 16 documents, the value of the seized Bitcoin is five times smaller than the amount of Ethereum seized. The FBI said that around 5.12 Bitcoin (BTC), which accumulated in various samples, was seized in 2023.
He reported that the total value of it was approximately $136,893.01. As of current writing, this amount is worth approximately $149,221.00. The document also discloses that $310,277 worth of Tether was seized during the period from March to May. The seizure of assets is the result of various violations of federal regulations. As we have reported as Kriptokoin.com, the FBI has carried out many other enforcement actions related to the crypto industry in 2023.
Jesse Powell’s house was raided
On July 7, some reports reported that the home of Jesse Powell, the founder of Bitcoin and altcoin exchange Kraken, was searched by the FBI. The agency was allegedly investigating allegations of hacking and cyber-harassment against a nonprofit arts group. Just two months ago, the FBI worked with the Ukrainian National Police to shut down nine crypto exchanges suspected of money laundering. Authorities also shut down all servers of crypto exchanges 24xbtc.com, 100btc.pro, pridechange.com, 101crypta.com, uxbtc.com, trust-exchange.org, bitcoin24.exchange, paybtc.pro, and owl.gold.
As a result, the Federal Bureau of Investigation (FBI) has shown that it is increasingly involved in the cryptocurrency industry, with a series of recent developments. In addition, the FBI also disclosed that $310,277 worth of Tether was seized during the period from March to May. This series of enforcement actions underlines that the FBI is carefully monitoring the Bitcoin and altcoin landscape. Thus, it highlights its commitment to maintaining compliance with federal regulations and addressing illegal activities in the industry. Recent events, including a search of Jesse Powell’s home and collaboration with the Ukrainian National Police to shut down suspected crypto exchanges, underscore the FBI’s active involvement in shaping the regulatory environment of the burgeoning crypto industry.
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