The US Justice Department has filed a civil complaint in the Northern District of Texas seeking the forfeiture of $2.4 million in Bitcoin linked to fraudulent activities.
Bitcoin Forfeiture Complaint
On Thursday, a complaint was filed in the Northern District of Texas seeking the forfeiture of 20.2 Bitcoin seized from an address allegedly linked to a member of the Chaos ransomware group. According to the Texas US Attorney’s Office, these funds are the proceeds of 'unlawful activity' related to ransomware attacks.
Government Bitcoin Holdings Evaluation
According to analytics firms, the US government is estimated to hold 198,012 BTC seized over the years. However, a recent freedom of information request from an independent journalist raises doubts about the accuracy of this figure. The journalist reported that the US Marshals Service (USMS) indicated that they only hold slightly more than 28,988 Bitcoin.
States Introducing Bitcoin Reserve Legislation
According to Bitcoin Laws, at least 30 US states have introduced legislation related to a Bitcoin strategic reserve. However, as of now, only Arizona, Texas, and New Hampshire have passed related laws.
Thus, the Bitcoin forfeiture complaint highlights the active measures being taken by the US in combating cybercrime, and also raises questions about the current holdings of Bitcoin by the government.
