The Federal Bureau of Investigation (FBI) has recently announced the confiscation of approximately $1.7 million worth of cryptocurrency assets between March and May 2023. This move is part of the agency’s ongoing efforts to combat illicit activities in the United States.
The seizures were carried out as a result of numerous violations of federal regulations. The FBI took control of various cryptocurrencies, including $147,000 in Bitcoin (BTC), $800,000 in Ether (ETH), $307,000 in Tether (USDT), 469,000 in Dai, and $20,000 in Monero (XMR). These assets were seized across multiple states, including Arizona, California, Connecticut, Florida, Georgia, Illinois, Louisiana, Massachusetts, Michigan, Minnesota, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, and Pennsylvania.
The largest confiscation occurred in the Eastern District of Virginia, where the FBI seized a total of 428.5 ETH, amounting to approximately $463,000. This marks the most significant seizure to date.
In addition to digital assets, the FBI also documented the seizure of US Dollars from bank accounts, as well as luxury items such as sports cars, bags, clothing, and footwear.
The FBI has been actively warning against fraudsters operating in the cryptocurrency space and has taken action against several well-known industry players. In July, the agency searched the residence of Jesse Powell, the founder of Kraken, following accusations of hacking and cyberstalking activities. The former CEO of FTX’s Bahamian subsidiary, Ryan Salam, also had his house raided by the FBI after reportedly turning against Sam Bankman-Fried days before bankruptcy.
Earlier this year, the FBI issued a cautionary statement regarding fake job ads that lure people to Southeast Asia, where innocent victims are held against their will and coerced into participating in international cryptocurrency scams targeting unsuspecting victims.
The recent confiscations by the FBI highlight the agency’s commitment to combating illicit activities in the cryptocurrency space. By seizing significant amounts of cryptocurrency assets and taking action against individuals involved in fraudulent activities, the FBI aims to protect investors and maintain the integrity of the market.
Please note that this news article was generated by AI and may not reflect the views or opinions of Crypto Time.