Darknet Drug Dealers Stash $16M In Bitcoin In 1974 Fishing Boat
- 3 years ago
US Treasury officials are trying to attack money laundering via Bitcoin and other cryptocurrencies.
And according to Business Insider, a recent case is a reminder that some courts treat the currencies much the same as cash.
A federal judge issued a warrant for the seizure of about 392 Bitcoin, valued at about $16 million.
US attorneys say the Bitcoin was owned by a group of Darknet drug dealers.
The owners bought a 1974 Triumph fishing boat and a California squid permit to 'conceal and disguise' drug money.
The value of the Bitcoin is more than 10 times what it had been in January 2019, when it was found in during a search of a home in Ventura, California.
Bitcoin can be stashed in a home, and $16 million in Bitcoin fits in a wallet.
And according to Business Insider, a recent case is a reminder that some courts treat the currencies much the same as cash.
A federal judge issued a warrant for the seizure of about 392 Bitcoin, valued at about $16 million.
US attorneys say the Bitcoin was owned by a group of Darknet drug dealers.
The owners bought a 1974 Triumph fishing boat and a California squid permit to 'conceal and disguise' drug money.
The value of the Bitcoin is more than 10 times what it had been in January 2019, when it was found in during a search of a home in Ventura, California.
Bitcoin can be stashed in a home, and $16 million in Bitcoin fits in a wallet.