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0 pointsCthulhu_12y ago0 comments

Except that it's not $150 million of seized assets, it's a bunch of electronic money that could or would at one point potentially sell for approximately $150 million if there were enough buyers for the offered digital product.

What does the FBI or other agencies do with intercepted drug money and criminal possessions? Drugs get destroyed, that much I know, but not sure about the other stuff.

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dr_doom12y ago

Like other seized assets they will get repurposed for other investigations. When the feds seize a boat, car, or home they either sell them or use them for operations, undercover and the like.[0]

I imagine the btc will be saved until the case is closed then try to be used for other investigations, I don't think the feds would try converting and selling it.

[0] http://www.justice.gov/jmd/afp/02fundreport/02_2.html

bdonlan12y ago

Why not convert it and sell it? Spending BTC doesn't destroy any evidence, you'll still have a record of the original BTC to trace. I imagine there is some legal procedure to go through before they can dispose of the assets, but I can't imagine them simply shredding the keys.

dublinben12y ago

In typical cases, money is sent to the U.S Marshalls, and then disposed of according to a judge's instructions. In this case, the FBI can't easily redeem the seized BTC for USD, so it will likely stay in evidence.

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