[2016-10-23] BS: In a 1st, NCB to seize 500 Bitcoins used in drug trafficking

[polynesia]

In a 1st, NCB to seize 500 Bitcoins used in drug trafficking

http://www.business-standard.com/article/pti-stories/in-a-1st-ncb-to-seize-500-bitcoins-used-in-drug-trafficking-116102300193_1.html

After cracking down on drug trafficking being conducted through the 'darknet' recently, the NCB is set to freeze about 500 Bitcoins in the accounts of traffickers, the first ever seizure of the virtual, unregulated currency in a criminal probe in the country.

The central agency, the nodal department to combat drug trafficking and liaise with multiple narcotics control and enforcement agencies, has interdicted and begun investigation against three syndicates in the country till now and in one case detected in western India, it is moving to seize Bitcoins.

Official sources said the Narcotics Control Bureau (NCB) is working on the legal aspects of the case to seize about 400-500 Bitcoins as part of its criminal investigation under the Narcotic Drugs and Physchotropic Substances Act (NDPS) besides a few other laws.

[polynesia]

Widely covered in other news media as well.

http://www.livemint.com/Politics/YCMXQ9uhncmny315W7z72H/In-a-1st-Narcotics-Control-Bureau-to-seize-500-Bitcoins-use.html
http://www.thehindu.com/news/national/ncb-to-seize-500-bitcoins-used-in-drug-trafficking/article9258504.ece
http://indiatoday.intoday.in/story/in-a-1st-ncb-to-seize-500-bitcoins-used-in-drug-trafficking/1/793442.html
http://indianexpress.com/article/business/business-others/narcotics-control-bureau-seizes-500-bitcoins-used-in-drug-trafficking-3098299/
http://www.hindustantimes.com/india-news/narcotics-control-bureau-to-seize-500-bitcoins-used-in-drug-trafficking/story-jRGsfH1SE7rghSyeb3rseL.html
http://www.moneycontrol.com/news/current-affairs/in1st-ncb-to-seize-500-bitcoins-useddrug-trafficking_7669761.html