US government confiscates Bitcoin at 5,5 million dollars

The US Justice Ministry stores crypto-currencies, and then sells them.

The US government intends to confiscate 500 BTC seized from four individuals accused of creating forged identity documents.

According to the Ministry of Justice, four people produced fake documents, such as driver's licenses and identity cards. The indictment indicates that criminals have an income from 500 Bitcoin for almost five years from June 2013 to 2018 in February, amounting to about 5,5 million dollars. On this money, American law enforcers set their sights.

If the accused are ordered to hand Bitcoin to the authorities, the US government will be able to add them to their existing pool of crypto-currencies confiscated from criminals in recent years. The funds are likely to eventually be auctioned, increasing the potential liquidity of the market, reports Coindesk.

As previously reported, the US Justice Department appropriated Bitcoin, seized after the closure of the largest trade site by illegal goods AlphaBay and the Federal Marshals Service will sell them on auction.

Author: Evgenij Novožilov, Analyst Freedman Club Crypto News

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