County in New Jersey makes 250% profit from crypto seized in 2018
County authorities captured the cryptocurrency during a 2018 drug bust in Long Branch. A county in the state of New Jersey has announced the liquidation of cryptocurrency assets seized in 2018.On Monday, the prosecutor’s office in Monmouth County announced that the confiscated crypto —initially valued at $57,000 at the time it was seized — was liquidated on Coinbase for $198,237 at a quote “profit” of $141,000.Authorities captured the cryptocurrency during a 2018 drug bust in Long Branch. The assets were frozen on a United States-based crypto exchange once officials determined them as....
Related News
Individuals and companies are not the only ones who take advantage of the significant bitcoin prices surging across the board, despite recent pullbacks. In New Jersey, United States, a county yielded profits after liquidating seized cryptocurrencies during a drug investigation. Authorities Gained Control of the Cryptos in 2019 According to NBC New York, local authorities from Monmouth County got the bitcoin (BTC) during a raid in the context of an illegal narcotics distribution crackdown in 2018. Investigators found that such digital assets were part of the profits gained by the criminals....
The U.S. has sold about 500 bitcoins seized back in 2018 for about $19.2 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. Federal authorities in the U.S. state of Ohio have sold bitcoins seized back in 2018 in a fraud case. The seized bitcoins were sold for nearly $19.23 million, Acting U.S. Attorney Bridget M. Brennan announced Thursday. The coins seized during the investigation were initially valued at approximately $2.88 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. The....
On January 14, Ian Smith, the co-owner of the Atilis Gym in New Jersey appeared on Fox News with the news anchor, Tucker Carlson, and discussed his battle with the state of New Jersey’s coronavirus lockdown orders. Smith and his business partner have defied the state’s lockdown orders and remained open for months. The Bellmawr establishment has been fined $15k per day, as the company does not adhere to enforcing Covid-19 protocols. On Wednesday evening the state of New Jersey allegedly took action and seized $173,613 from the gym owner’s bank account. Atilis Gym Owner....
A New Jersey police officer has been arrested and charged with receiving stolen property after allegedly selling stolen bitcoin mining equipment. According to Somerset County Prosecutor Geoffrey D Soriano, Vincent Saggese, 32, of Metuchen, NJ, met with a Somerset County Prosecutor's Office undercover detective twice and negotiated the sale of stolen KNC Miner Neptune devices. Saggese, who worked for the Plainfield Police Department for 10 years, was also charged with professional misconduct after allegedly accepting $250 from the undercover detective and agreeing to obtain the address and....
Another U.S. county is facing troubles related to crypto mining activities within its territory. This time, the second-largest county in Montana is the protagonist of the story, who will look forward to revisiting local zoning for mining operators. Authorities to Decide on Making Current Rules Permanent According to KPAX, Missoula County authorities seek to hold a series of public hearings addressing the matter. In fact, they are targeting to make zoning rules for bitcoin (BTC) mining activities permanent in the county. The Missoula County Planning Board already held the first....