Share this article
The U.S. Department of Justice’s Northern District of Ohio has sold over $19.2 million worth of Bitcoin seized from Mark Simon, who pleaded guilty to selling counterfeit identification documents and money laundering.
DOJ Auctions Seized Bitcoin
The U.S. Department of Justice’s Northern District of Ohio has sold Bitcoin worth roughly $5.1 million when seized in 2018 for $19.2 million.
Bridget Brennan, the acting U.S. attorney for Northern Ohio, confirmed the sale of the Bitcoin, cleveland.com reported Thursday.
The Bitcoin was seized from Mark Simon, who was arrested for selling false identification documents in exchange for the asset. The federal prosecutors found that Simon had been operating the scam since 2008. The FBI began tracking Simon in 2015 and caught him in February 2018. The Department of Justice seized around 500 BTC from Simon, worth $5.1 million at the time. Simon pleaded guilty a year later in court, and the Bitcoin was added to the federal treasury.
According to data posted by prominent Bitcoiner Jameson Lopp, U.S. authorities have sold over $150 million in Bitcoin since 2014.
The government has recently reported multiple seizures in cryptocurrencies, totaling close to $100,000. The highest amount—about $60,000—came from a Menlo Park resident after the Inland Revenue Service confiscated the individual’s Bitcoin holdings.
The U.S. government also added 69,370 BTC in Nov. 2020, currently worth over $2.3 billion, seized from an unnamed individual linked to the infamous Silk Road case. The auction date for the massive sale is yet to be decided.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
$4.2 Billion in Crypto Seized from PlusToken Scammers
Chinese police have seized $4.2 billion worth of crypto assets, including 194,775 BTC and 833,083 ETH, from the infamous PlusToken scheme. China Cracks Down on PlusToken Following a Nov. 19…
“Silk Road” Crime Biopic Slated for February 2021
Lionsgate has acquired the rights to Silk Road, an upcoming film that tells the true story of Ross Ulbright, creator of what was once the world’s largest dark net marketplace….
$26M in Bitcoin From the 2016 Bitfinex Hack on the Move
2,470 Bitcoin from the 2016 Bitfinex hack, where a total of 120,000 BTC was stolen, just moved to new addresses. The hackers responsible for the 2016 Bitfinex hack moved 2,470 Bitcoin…
What is Kusama? How Polkadot’s playground accommodates blockchain de…
Kusama is relatively young and was founded in 2019 by Dr. Gavin Wood, who also founded the Web3 Foundation and co-founded Ethereum. The team behind Kusama is essentially the same…
Be the first to comment