US darknet dealer’s $2.3 million in Bitcoin seized

A Brockton, Massachusetts resident was sentenced to eight years in prison for trafficking drugs for bitcoins, and authorities confiscated about $2.3 million in cryptocurrency. This, according to Boston Herald.

According to the outlet, this is the first such seizure of digital assets for federal authorities.

«This sentence sends a clear signal to darknet criminals — the federal government is entering this space. We will find you and hold you accountable. Thanks to the incredible work of our law enforcement colleagues, one fewer cybercriminal in the shadows.» — Prosecutor Rachel Rollins.

The 25-year-old Binh Thanh Le organized the EastSeyHigh darknet marketplace about three years ago. Through the site, the dealer earned 59 BTC from selling synthetic drugs. Authorities seized the cryptocurrency during a 2019 police operation, when it was worth roughly $200,000.

In addition to the digital assets, the court confiscated approximately $115,000 in cash and a BMW M3 sports car, which authorities sold for $42,390.

Chainalysis data show that darknet markets are the largest source of illicit cryptocurrency proceeds. In 2021, cybercriminals launched digital assets worth $8.6 billion, up 30% from 2020.