Federal prosecutors are seeking the forfeiture of more than 500 (BTC) (worth about about $5.5 mln) seized during the investigation of a group producing fake identity documents, according to the Ohio Department of Justice’s March 1 .
A federal grand jury has indicted four people from Ohio for producing and transferring fake driver’s licenses and ID cards from different states across the .
Along with the BTC, prosecutors are also asking for the forfeiture of more than $8,000 in cash, as well as gold and silver coins and bars equal to around $265,000. If the prosecutors win the case, then the BTC, along with the other listed assets, will be seized by the government.
The US government has previously following criminal convictions. The US Marshals Service has periodically held auctions for seized crypto assets, 3,813 bitcoins in January of this year.
The the 144,336 BTC forfeited from Ross Ulbricht after his conviction for founding and running the now-defunct online black marketplace , were equal to around $48 mln, an average of $334 per bitcoin. If the government had sold the BTC today, they would have made over $1.5 bln.
Government auctions of seized crypto assets are not limited to the United States. Last year, the government with to create a transparent platform for cryptocurrency auctions.
Published at Fri, 02 Mar 2018 19:32:07 +0000
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