U.S. Seizes Drug Ring’s $54M Crypto Stash as Prisoners Hatched Big Plans for Assets

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U.S. Seizes Drug Ring’s $54M Crypto Stash as Prisoners Hatched Big Plans for Assets

What started out as $9,000 in ETH when they first invested the drug proceeds blossomed into about $53 million, authorities said, plus a wide assortment of other tokens he’d obtained, including solana (SOL), cardano (ADA) and bitcoin. Because it was tied to the original drug trafficking, the U.S. seized it as a forfeiture. www.coindesk.com

What started out as $9,000 in ETH when they first invested the drug proceeds blossomed into about $53 million, authorities said, plus a wide assortment of other tokens he’d obtained, including solana (SOL), cardano (ADA) and bitcoin. Because it was tied to the original drug trafficking, the U.S. seized it as a forfeiture.

www.coindesk.com

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