The FBI Seizes Nearly $2 Million Of Digital Assets In Three Months, New Filings Reveal

In a series of court filings revealed this week, the FBI has reported seizing nearly $2 million in digital assets after conducting various investigations around the country in the last three months. The seizures include cryptocurrency, cash, and other digital assets, with nearly half of the total coming from the sale of forfeited crypto. The majority of the recovered funds stem from civil forfeiture complaints and orders, which a federal judge has authorized to take physical possession of the digital assets. The majority of the funds are related to ongoing investigations, though some percentages have been used to repay victims of cyber crime. It is not clear what specific crimes the funds are in connection with. The news is particularly significant considering earlier this year, the Justice Department issued an advisory when it declared that it takes digital currencies “very seriously” and that it “will not hesitate” to take criminal and civil actions to address any unlawful activity involving it. As more companies continue to transact with digital assets and more crimes are being committed involving them, the government’s actions appear to be a sign of both protecting citizens and sending a message to criminals that they will face stiff penalties if caught.