Skip to main content

US Authorities Seize Over $20M in Crypto in Massive Darknet Crackdown

US Authorities Seize Over $20M in Crypto in Massive Darknet Crackdown

US authorities have revealed that their agents had been operating undercover on the Darknet for the past year. The massive operation uncovered the true identity of over fifty vendors on sites such as Silk Road, Alpha Bay, Hansa, Dream, and more. Over 35 people have already been arrested and goods worth over $23.6 million have been sized.

Also Read: If You Can’t Beat Them, Join Them – Bitcoin Is Hiring Regulators

“One of the Largest Threats to the U.S. Financial Infrastructure”

US Authorities Seize Over $20M in Crypto in Massive Darknet CrackdownThe Darknet crackdown involved multiple law enforcement forces including the DOJ, ICE’s Homeland Security Investigations (HSI), the Secret Service, the Postal Inspection Service and the DEA. The actual undercover investigation was spearheaded by HSI Special Agents who posed as money launderers on the dark markets, exchanging fiat for cryptocurrency. And the DOJ’s Money Laundering and Asset Recovery Section, working with more than forty U.S. Attorney’s Offices, lead to the arrest of over 35 vendors.

“The Secret Service is proud to work with our law enforcement partners to help combat one of the largest threats to the U.S. financial infrastructure, money laundering with virtual currency,” said U.S. Secret Service Assistant Director Jenkins. “The Secret Service continues to adapt along with these cyber criminals to maintain our level of success in stopping them.”

Over $20M in Crypto Seized

US Authorities Seize Over $20M in Crypto in Massive Darknet CrackdownBesides the arrests of the vendors, the authorities were able to seize goods worth over $23.6 million in a month with over 100 enforcement actions. These include liquid synthetic opioids, tramadol, fentanyl, Xanax, Oxycodone, MDMA, cocaine, LSD, marijuana, and psychedelic mushrooms. The authorities also sized more than 100 firearms, including handguns, assault rifles, and a grenade launcher; five vehicles; more than $3.6 million in gold bars and fiat; nearly 2,000 bitcoin and other cryptocurrencies, with an approximate value of more than $20 million; pill presses, Bitcoin mining devices, computer equipment, and vacuum sealers.

“The Darknet is ever-changing and increasingly more intricate, making locating and targeting those selling illicit items on this platform more complicated. But in this case, HSI special agents were able to walk amongst those in the cyber underworld to find those vendors who sell highly addictive drugs for a profit,” said HSI Acting Executive Associate Director Benner. “The veil has been lifted. HSI has infiltrated the Darknet, and together with its law enforcement partners nationwide, it has proven, once again, that every criminal is within arm’s reach of the law.”

Will a crackdown on darknet markets have any influence on bitcoin adoption? Share your thoughts in the comments section below. 

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post US Authorities Seize Over $20M in Crypto in Massive Darknet Crackdown appeared first on Bitcoin News.



from Bitcoin News https://ift.tt/2lAZfP2
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more