The IRS has seized 185k+ bitcoins. Where the heck do they go?
The Hustle

The IRS has seized 185k+ bitcoins. Where the heck do they go?

Since 2013, the feds have seized and auctioned off ~$7B worth of bitcoin.

For the IRS, criminal sting operations stereotypically involve seizing and liquidating file cabinets and Ferraris.

But today, more than ever, they involve cryptocurrencies.

Since 2013, the feds have seized and auctioned off 185k+ bitcoins that — if all held onto — would’ve been worth ~$7B today.

Once liquidated, funds are split among the Treasury Forfeiture Fund or the Department of Justice Assets Forfeiture Fund, where Congress decides their fate.

Get the 5-minute roundup you’ll actually read in your inbox​

Business and tech news in 5 minutes or less​

Exit mobile version