- The Federal Bureau of Investigation (FBI) has seized around $1.7 million worth of crypto assets from March to May in the United States.
- The confiscations were made due to various violations of federal rules and regulations.
- The FBI took control of Bitcoin, Ether, Tether, Monero and Dai across multiple states in the US.
FBI Seizure of Crypto Assets
The Federal Bureau of Investigation (FBI) announced that it had confiscated approximately $1.7 million worth of crypto assets from March to May in the United States in a bid to combat illegal activities. The seizures were carried out as a result of numerous breaches in federal regulations.
Crypto Assets Seized by FBI
The law enforcement agency took control of $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) across Arizona, California, Connecticut, Florida, Georgia, Illinois, Louisiana, Massachusetts Michigan, Minnesota, Nebraska, New Hampshire , New Jersey , New Mexico , New York , Ohio , Oklahoma And Pennsylvania among other states.
Largest Seizure Recorded So Far
In addition to digital assets , the FBI also documented the seizure of US Dollars from bank accounts , sports cars and luxury items such as bags , clothing , footwear etc . The largest seizure was recorded at 428.5 ETH which amounted to around $463 000 within the Eastern District Of Virginia .
Warning Against Fraudsters
The FBI has consistently issued warning against fraudsters operating within the crypto space and has also raided several well-known industry players’ houses . One example is Kraken founder Jesse Powell who was searched by US law enforcement agency back In July .
Combatting Illegal Activities
Overall this move is seen as an effort towards combating illicit activities within the cryptocurrency space . It allows for better tracking down any form of criminal activity or money laundering attempts using cryptocurrencies .