The USA confiscated cryptocurrencies like Bitcoin and Bitcoin Cash, now is going to sell it all. We don’t talk about some small amount but about the collection now worth over 10 million dollars.
Back in 2016 in Salt Lake City, Aaron Shamo with his partner-in-crime sold medicaments via dark web. In November 2016, he got stopped by police what was considered as the biggest stopping in the history of USA. Aaron was accused of multi-million, organized trade of illegal prescription drugs. His and his partner profits – at that time – was about half of a million dollars.
After the end of a lawsuit, the government became the owner of confiscated cryptocurrencies. According to court’s statement, all the digital coins were transferred to government’s wallet. Now the group of specialists is working out on selling them. At this moment, the value of criminal’s assets is over 10 million dollars due to the high increase of cryptocurrency exchange rate. The cryptocurrencies that have been chosen by criminals were Bitcoin and Bitcoin Cash. As we know, since November 2016 the exchange rate of Bitcoin increased over 250%. Bitcoin Cash didn’t lag behind. Since the fork, its value increased almost 230%.
Due to possible rapid change of exchange rate both cryptocurrencies, USA is planning to sell them as fast as they can. To avoid the market downturn coins will be sold on few commercial markets. What’s more, coins will be divided into smaller parts, 50 coins at the moment to avoid the loss or a fraud.
This will definitely affect cryptocurrencies market. We are talking about (if we would assume that the only crypto is Bitcoin) over 560 coins. Well, we are really counting on a good and smart move from USA’s government.
Last modified: December 16, 2017
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