A recent filing showed that the U.S. Attorney’s Office is taking legal action to recover more than $54 million in cryptocurrency linked to an illegal narcotics distribution scheme. The cryptocurrency, including 30,000 Ethereum (ETH) valued at approximately $53.5 million, was previously seized and can be traced back to criminal activities. Meanwhile, the move highlights authorities’ commitment to pursuing gains obtained through illicit means, even in the realm of cryptocurrency.
U.S. Attorney Seizes Crypto Worth $54 In Narcotics Link
The U.S. Attorney’s Office, led by Philip R. Sellinger, has initiated a civil forfeiture action to reclaim cryptocurrency valued at over $54 million, which is connected to illegal narcotics distribution on the darknet, mainly in New Jersey.
Sellinger stressed that they would seize any financial gains obtained from criminal activities, regardless of whether they involve physical cash or cryptocurrencies. Notably, this action serves as a warning to thos
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