US Authorities' Darknet Crypto Marketplace Crackdown Has Seized $23 Million+ in Goods

The US authorities have just seized over $20M in cryptocurrencies

The US authorities have just revealed for the past one year the agents have been undercover on the Darknet. It was a massive operation that has been carried out and was able to uncover the true identity of about fifty vendors on various sites such as the Alpha Bay, Silk Road, Dream and many more. From this operation, there are about over 35 people who have yet been arrested and also goods that are worth $23.6 million have already been seized.

It Has Been Considered To Be One Of The Biggest Threats To The Financial Structure In The US

The crackdown involved a number of law enforcement, this is including the ICE Homeland Security Investigation, DOJ, and even the secret service. The Homeland Security Investigation agents spearheaded this undercover. Where the agents would pose as actual money launderers operating on the dark market, where they would also exchange fiat for crypto coins.

While the DOJ was also in place working with over forty of the US Attorney’s Offices, which made it all possible to arrest over 35 vendors on the web.

The Operation Seized Over $20M In Crypto Coins

The operation was also able to seize a large sum of crypto coins; this is beside the arrest of the vendors. The goods that were captured were worth over $23.6M in just a month, while still having over 100 enforcement actions take place. Which included the tramadol, synthetic opioids, Xanax, cocaine, fentanyl, marijuana, just to name a few of the illicit drugs.

But this is not all as the authorities were also able to seize over 100 firearms, which included assault rifles, handguns, and even grenade launchers, five vehicles with over $3.6M in gold bars. It is indeed a big break in the operation. There was also over 2,000 bitcoins together with other crypto coins which have an approximate value of about $20M, from mining devices, the pill press, vacuum sealers and various computer equipment.

It is evident that the darknet is also ever-changing, and in each day it is becoming even more intricate. Accordingly, this makes it more complicated to track down the individuals who are selling these illicit items. But in the current case, the agents of the HSI operation were able to blend well in the cyber underworld, which aided in finding the vendors who have been selling these highly addictive drugs at a profit.

But it is important to note; this is not the first time that the US has been able to confiscate crypto coins. Since the former President Barack Obama in the year 2015 he was able to set a declaration that covered the confiscation of illegal transactions. It is an executive ordered the president signed; as a result, it enables the US authorities to confiscate any unlawful cryptocurrency holding without providing any warning.

But this is not all as the document has a detailed outline of the confiscation procedure that should be carried out and also implemented. It is to ensure that this threat has been cabbed and adequately dealt with.

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