US Authorities Missed Millions of Dollars in Seized Crypto Wallets
25 Nov 2020

Coinfirm, blockchain analytics and anti-money laundering (AML) solutions provider has discovered that the US authorities have failed to identify millions of dollars worth of forked cryptos in criminal seizures over the past few years.

In a published report, the company mentioned that missed funds may still be within the reach of criminals as they can access those funds if they have private keys of the wallet. According to a self-funded investigation conducted by the firm, the law enforcement agencies may have missed around $400K in the recent $1 billion bitcoin seizure from a Silk Road wallet.

The US Department of Justice (DOJ) announced on 5 November that it had seized more than $1 billion worth of stolen bitcoin from an anonymous user named ‘Individual X’ who kept bitcoin in a wallet associated with darknet Silk Road.

By Bilal Jafar, Finance Magnates, 24 November 2020

Read more at Finance Magnates

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