Ethereum Trumps Bitcoin and Tether in FBI Seizures
The FBI recently disclosed that it had seized various cryptocurrencies, including Ethereum, Bitcoin, and Tether, from wallets over the past few months. Among the seizures were also items like weapons, sneakers, and clothing. In the Eastern District of Virginia, authorities confiscated 428.5 Ethereum from four wallets, with a combined value of almost $800,000 at the time. This included a single seizure worth $463,811. The value of Bitcoin seized was more than five times smaller than the Ethereum amount, with approximately 5.12 Bitcoins worth around $136,893.01. Additionally, $310,277 worth of Tether was confiscated.
FBI Keeping Tabs on Crypto
The FBI has been actively involved in the cryptocurrency sector, making several enforcement actions in 2023. In one instance, the founder of crypto exchange Kraken had his home searched by the FBI in connection to hacking and cyberstalking claims against a nonprofit arts group. The FBI also collaborated with the National Police of Ukraine to shut down nine crypto exchanges suspected of money laundering. Furthermore, the authorities shut down several servers of crypto exchanges.
Key Points:
– FBI seized various cryptocurrencies, including Ethereum, Bitcoin, and Tether.
– In the Eastern District of Virginia, 428.5 Ethereum with a combined value of almost $800,000 was confiscated.
– The value of Bitcoin seized was more than five times smaller than the Ethereum amount.
– $310,277 worth of Tether was also confiscated.
– FBI has been actively involved in the cryptocurrency sector, conducting enforcement actions and collaborating with international authorities.
Hot Take:
The recent seizures by the FBI highlight the agency’s focus on regulating and investigating the cryptocurrency sector. With the increasing popularity and value of cryptocurrencies, it’s crucial for individuals and businesses involved in this space to ensure compliance with federal regulations to avoid potential legal consequences.
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