A human being’s skill-set is loaded with all sorts of features, but what makes them tick is our unmatched intelligence. You see, this cognitive ability is a big reason why have been able to achieve everything that we did. However, if you go back and look through the history for a second, you’ll see how we haven’t always used it in a judicious manner. In fact, during some instances, our application of it was downright unethical, thus leaving a hugely detrimental impact on the surrounding world. To curb such occurrences, we would introduce dedicated regulatory bodies across the board. The said move will pay off big time, as suddenly we had a sense of security that we never got to experience before. It also ended up creating a highly-coveted level-playing field, but this utopia lasted for only a short while. Once technology took over the landscape, it gave those rule breakers another chance at reclaiming their dominance, and of course, they took it with both hands. The situation will grow even worse following the arrival of more advanced technological by-products, which included stuff like cryptocurrency. Now, while our regulatory industry continues to struggle against the said ingenious tools, we are, under some capacity, witnessing a shift in the dynamic. For once, these watchdogs are striving to understand what technology is all about, and a recent case gives us a perfect insight into what we should expect moving forward.
Department of Justice has successfully seized $34 million worth of bitcoins from a Florida-based dark web seller. According to certain reports, the man in question got this lucrative bitcoin collection from making illegal sales on dark web. Most of his operations were based on selling hacked account info related to various popular services including Netflix, HBO, Uber, and more. Interestingly enough, after completing the sale, the culprit would use a series of tumblers to convert one cryptocurrency into another. Named as chain hopping, this tactic is used to hide the transaction’s source, and it’s also a widely-recognized form of money laundering. Anyway, these proceeds would eventually make their way to different crypto wallets, which played a big role in tracing the Parkland, Florida resident. Talk about an extensive breakdown of the stated figure, the law enforcement seized over 919.3 Ethereum, 643 bitcoins, 640 bitcoin gold, 640 bitcoin cash, and another 640 bitcoin SV.
Deemed as the largest crypto seizure, “this forfeiture action is the result of Operation TORnado, a joint investigation that stems from the ongoing efforts by OCDETF (Organized Crime Drug Enforcement Task Group), a partnership between federal, state, and local law enforcement agencies,”