BTC $9740.54 -4.07%
ETH $206.38 -3.80%
XRP $0.307237 -3.04%
Witnessing the digital breakthrough

Canadian Police Arrest A Record Amount Of ‘Criminal’ Bitcoins

04 April 2019 16:50, UTC
Canadian Police Arrest A Record Amount Of ‘Criminal’ Bitcoins

14.03.2019  |   in Crime
Canada is again in the highlights of crypto news with the crime reports. This time it became known that the Canadian police managed to confiscate bitcoins worth $ 1.9 mln from the arrested drug dealer, Toronto Star writes.

This is the first time that Canadian law forces have managed to arrest cryptocurrency on such a scale: in terms of the amount seized, drug dealer Matthew PHAN may outperform another notorious criminal, Gal VALLERIUS, also known as Oxymonster.

Phan pleaded guilty to the drug trafficking charges. However, he had previously claimed that not all cryptocurrency was used for criminal purposes. Nevertheless, the court ordered the confiscation of an amount of 281.41 BTC (total amount of cryptocurrency found on the computer of the accused) and stated that there was ‘overwhelming evidence’ that Phan was selling illegal drugs en masse. The arrested amount of crypto is equivalent to 1.9 mln of US dollars.

Phan’s sentence has not yet been announced, but he could face decades in prison. Thus, the French drug dealer Gal Vallerius was sentenced to 20 years of imprisonment.

Image from ITV

Read the best crypto news analysis here! Bitcoin, investments, regulation and other cryptocurrencies
Found a mistake? Select the text and press CTRL+ENTER
Leave a comment
Leave a comment
Report a mistake