Federal Judge Orders Bail Settlements to Be Paid in Cryptocurrencies
Another hacking case was presented in front of San Francisco’s federal court, and it turns out that the judge has ordered the defendant to settle bail in cryptocurrency payment.
According to The Daily Post, the culprit, Martin Marsich was arrested on Wednesday, August 8, for illegally accessing gaming firm, Electronic Arts’ internal systems which housed personal information of nearly 25,000 consumers. The account information was allegedly vital for gamers to make purchases, hence hinting that the problem at hand can financially impact said gamers.
When presented in front of Federal Judge, Jacqueline Corley, she ordered that his bailout would cost nearly $750,000, which would put him in a halfway house. Two options were also presented, and it seems that Marsich has no other choice but to either choose between the giant, Bitcoin [BTC] or other altcoins.
U.S Assistant Director Attorney, Abraham Simmons, noted that he wasn’t flabbergasted with the judge’s final say, as it is a norm for the federal judges to decide what the payment options are. Simmons also shared an example of what would be the verdict, i.e. “real estate owned by another person”.
Despite what is asked of the culprit, the main goal, according to Simmons, is not to “maintain the value of any particular asset,” but rather to ensure that the “defendant [would] comply with an order to appear later.”
Considering the fact that cryptocurrencies are volatile, Simmons added that such information would be brought to light to the court, where the latter might or might not see it as making a whole lot of a difference.
The hefty bailout price comes with the cost Electronic Arts had to incur. As per Coin Desk’s report, Marsich not only stole personal account information, but also compromised them via the dark web. The total amount of losses that the company has incurred is supposedly $324,000.
For the time being, the defendant was issued to return to court on Monday to set further court dates. If Marsich is deemed guilty, then he will be given a sentence time of five years with $250,000 fine and additional fees depending on his actions.