Cryptos sales. Unfortunately, since the currency was created by Man as “tool” for commercethis tool was diverted for illegal trade. After gold coins, then banknotes, it is therefore sadly logical that the new form of money that is Bitcoin (BTC) and cryptos.
But fortunately, the fact that crime does not pay is also a constant. Thus, tens of millions of dollars on Ethereumsoiled by a drug trafficshould return to the right path of the coffers of the US federal state!
An early Ethereum enthusiast will have to pay for his traffic
It’s in a communiqué press release published this November 2, 2023 that the United States Attorney’s Office of the District of New Jersey announces a new record seizure of cryptos in perspective. Indeed, that same day, the federal prosecutor Philip R. Sellinger filed a civil action in confiscation to recover no less than 54 million dollars of cryptocurrencies.
In reality, these digital assets have, in fact, already been seized in the context of a case on a illegal drug distribution system, which operated in and around the state of New Jersey. The confiscation would relate to 30 000 ethers (ETH) dating back toICO d’Ethereum en 2014as well as 30 000 ETC (Ethereum Classic) issus du schism of 2016 between the two projects (following The DAO hack).
“From 2010 to 2015, Christopher Castelluzzo and others conspired to sell various narcotics. Around 2013, Castelluzzo and his accomplices began selling narcotics on darknet sites in exchange for bitcoins. (…) Castelluzzo then used part of these bitcoins to buy 30,000 ethers in theInitial Coin Offering (ICO) of Ethereum in July 2014. Castelluzzo also received an amount of an additional cryptocurrency – 30,000 ETC (Ethereum Classic) – in 2016. (…) »
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Ethers which exploded in value, and almost escaped the American tax authorities
The value of $54 million mentioned above is not only for ETH. Indeed, Christopher Castelluzzo still owns other cryptocurrencies, including all the same 510 000 dollars d’ETC, at the current price of the latter crypto (around 17 dollars per unit). Well, a little less in fact, because – anecdote – he would have used 2000 ETC to fund his prison commissary account.
But if the US Attorney’s Office only talks about this sum in ETH, it is because our lover of cryptos and narcotics would have tried to keep them safe, beyond the reach of the USA :
“Mr. Castelluzzo is currently serving concurrent 20-year federal and state prison sentences for drug distribution convictions. While Castelluzzo was incarcerated following these convictions, and the value of Ethereum increased, Castelluzzo plotted from prison to avoid taxes and move the 30,000 ether outside (sic) the United States. (…) Before he could do so, the United States learned of Castelluzzo’s efforts to launder his cryptocurrencies through recorded prison phone calls in 2021, and intervened to seize Castelluzzo’s cryptocurrency holdings (…) ). »
These few tens of millions of dollars of ether will still come grow the huge crypto treasure that the United States has accumulated in recent years. Indeed, recent estimates still assess US Bitcoin holdings at 194,000 BTC despite several sales already made. Or close to $6.7 billion at the current price!
When it comes to crypto, don’t throw caution to the wind! So, to keep your cryptographic assets safe, the best solution is still a personal hardware wallet. At Ledger, there is something for all profiles and all cryptos. Don’t wait to put your capital in safety (commercial link)!
2023-11-06 06:00:00
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