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.
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