NFTs seized by police

[PawGo]

Belgian police announced that for the first time in their history they seized NFT as a part of "fortune" (together with gold and silver coins worth €346000 and some crypto) related to money laundering case.

https://www.brusselstimes.com/justice-belgium/234830/nfts-seized-by-police-for-the-first-time-ever-in-belgium

Which means, now crypto and NFTs are treated as a "normal" assets.

[NeuroticFish]

Bitcoin related to crime was seized and auctioned away by many countries for many years. I don't feel that much has change since then, maybe only the fact that newer coins/tokens were "added to the list", including the NFTs (but I already said tokens).

[PawGo]

Bitcoin related to crime was seized and auctioned away by many countries for many years. I don't feel that much has change since then, maybe only the fact that newer coins/tokens were "added to the list", including the NFTs (but I already said tokens).

Maybe everything comes tool late to Belgium and that makes it 1st page news?
"NFT" is probably the ne thing. I wonder how they evaluate the price, because they probably need an official statement from an expert - at the end they need to know if it is worth $10 or $1000.

[NeuroticFish]

Maybe everything comes tool late to Belgium and that makes it 1st page news?

LOL!
The current prices and related hype makes the news "worthy for first page".
Else it would be buried somewhere. And maybe some years ago it would have been coming with explanations (like "Bitcoin is like some online-game-money and NFTs are like online-game-unique-equipment") [j/k]

I wonder how they evaluate the price, because they probably need an official statement from an expert - at the end they need to know if it is worth $10 or $1000.

Yeah, NFT prices are pretty much random. I guess that they'll ask a specialist and, subtract some 20-40% to be sure they can sell it, then auction everything together.

[stompix]

Maybe everything comes tool late to Belgium and that makes it 1st page news?

Or maybe they just didn't have a case of fraud yet and NFTs are not that widely used, anyhow it's not a first in Europe:
Dutch police seize NFT's for the first time ever
https://nltimes.nl/2022/03/30/dutch-police-seize-nfts-first-time-ever
HMRC seizes NFT for first time in £1.4m fraud case
https://www.bbc.com/news/business-60369879

Funny thing from the arrest:

During two house searches on 18 May 2022 in the context of a money laundering case, the police seized a large quantity of silver and gold coins worth approximately €346,000, as well as cryptocurrency worth around €175,000. NFTs worth €26,000 were also seized.

Seems like gold is still the king  

LE:
Since you said 1st-page news:

Most Read
1 World’s largest (and smelliest) flower set to bloom in Belgium this week
2 Humpback whale visits the Belgian coast for a week
3 Belgium’s language divide: Many young Walloons do not speak Dutch

seems like the press is out of material there.

[Flexystar]

Seems way normal in terms of money laundering. These money can be laundered with anything. Have you ever seen how hell crazy auctions are done for paintings and antiques? That’s Money laundering in terms of tax savings by rich people. They know very they can hide their black assets with the help of government policies to protect the history of humans through these auctions. Everything is related and make sense if you study it closely. NFT is nothing but alternate form of auctions for artworks, (including stupid things) and there you go devil laughs in the background and plans to use it to launder the money.

[jrrsparkles]

Belgian police announced that for the first time in their history they seized NFT as a part of "fortune" (together with gold and silver coins worth €346000 and some crypto) related to money laundering case.

https://www.brusselstimes.com/justice-belgium/234830/nfts-seized-by-police-for-the-first-time-ever-in-belgium

Which means, now crypto and NFTs are treated as a "normal" assets.

Nothing new, it happened a lot of times in the past not because its related to cryptocurrencies it happened because of money laundering or any other illicit activity which violates the laws of government. But from where they have seized funds from exchanges? Because its not really possible to access if its in our wallet.

[o48o]

... I wonder how they evaluate the price, because they probably need an official statement from an expert - at the end they need to know if it is worth $10 or $1000....

Probably they know something as they knew how to confiscate those in the first place. But i recon they would value it with some combination of floor price and liquidity possibility. But if they sell them, they will probably be auctioned. And not sold on the market as there might not be any buy orders.

[5W-KILO]

Belgian police announced that for the first time in their history they seized NFT as a part of "fortune" (together with gold and silver coins worth €346000 and some crypto) related to money laundering case.

https://www.brusselstimes.com/justice-belgium/234830/nfts-seized-by-police-for-the-first-time-ever-in-belgium

Which means, now crypto and NFTs are treated as a "normal" assets.

NFTs wouldn't be treated as a normal asset on the long run because its a better place for dirty money, even NFTs that doesn't make any sense got spent millions of dollars on, its crazy, there are many useless NFTs than shitcoins in crypto space right now, I choose crypto coins over NFTs.

[danherbias07]

I like what I read at the first part of the article until...

This allows the buyer to claim it as the owner and allows them to transfer it as part of a trade or sell it off. This is presumably also how the police can seize NFTs, however, this could not be confirmed by the police, as this information cannot be shared.

Almost like they just put it in to scare those who are using NFTs to do money laundering schemes.
Well, I may be wrong but that's how I looked at it. It's a good strategy though, just feed the news to the people and soon it will almost look real even if it doesn't really exist.
If it is, then the police are making amazing progress. They will not stop at just looking at the garage, and secret doors but also deep inside the computer and smartphones of every crime.

[avikz]

Which means, now crypto and NFTs are treated as a "normal" assets.

Lol! It's hilarious to see this statement!

Digital assets are normal since a long time now, especially in the western countries. This is not the first instance where cryptos have been seized by police as criminal proceed. Probably that's the first case for NFT.

NFT market is flooded with money launderers. I mean NFT is the best thing ever happened in the money laundering world after privacy focused cryptocurrencies. Otherwise a JPG shouldn't get sold for millions. It's an utter nonsense!

[zasad@]

Belgian police announced that for the first time in their history they seized NFT as a part of "fortune" (together with gold and silver coins worth €346000 and some crypto) related to money laundering case.

https://www.brusselstimes.com/justice-belgium/234830/nfts-seized-by-police-for-the-first-time-ever-in-belgium

Which means, now crypto and NFTs are treated as a "normal" assets.

In today's world, the word "normal" will lose its meaning. Keeping your savings in NFT tokens and cryptocurrencies is much safer than in banks and safes. Today I could not pay for services with a bank card, but I paid very quickly with a litecoin.

[CaVO32]

Which means, now crypto and NFTs are treated as a "normal" assets.

Lol! It's hilarious to see this statement!

Digital assets are normal since a long time now, especially in the western countries. This is not the first instance where cryptos have been seized by police as criminal proceed. Probably that's the first case for NFT.

NFT market is flooded with money launderers. I mean NFT is the best thing ever happened in the money laundering world after privacy focused cryptocurrencies. Otherwise a JPG shouldn't get sold for millions. It's an utter nonsense!

I believe their authorities have done their homework, hence, even the NFT has been seized. They have their own reasons why they took it. But yes, seizure of digital assets is not new anymore. But maybe, one of the firsts for NFT. Their police force should be very familiar how NFT works, because if not, how could they seize it and assess its value? They may have been following the transactions of this person, and checking it in the market.

[nimogsm]

I'm more interested in what kind of nft is there?Perhaps we will see a new auction of seized digital assets, the main thing is that the servants of the law have time to do it and the arrested nft has not turned into dust by this time.

[goaldigger]

I'm more interested in what kind of nft is there?Perhaps we will see a new auction of seized digital assets, the main thing is that the servants of the law have time to do it and the arrested nft has not turned into dust by this time.

Most probably that money came from laundering and that’s why the authority seized it. Unfortunately, that guy didn’t know how to secure his wallet and gave up easily all the details of his crypto assets. This can be prevented if you know how to be more secured and of course if you are doing things legally. Hopefully, the authority will also come after those scammers and hackers because they are the real bad luck here in the cryptomarket. Let’s see if more successful seized like this to happen in cryptoworld, be careful always.

[AdryJoel]

Belgian police announced that for the first time in their history they seized NFT as a part of "fortune" (together with gold and silver coins worth €346000 and some crypto) related to money laundering case.

https://www.brusselstimes.com/justice-belgium/234830/nfts-seized-by-police-for-the-first-time-ever-in-belgium

Which means, now crypto and NFTs are treated as a "normal" assets.

NFTs wouldn't be treated as a normal asset on the long run because its a better place for dirty money, even NFTs that doesn't make any sense got spent millions of dollars on, its crazy, there are many useless NFTs than shitcoins in crypto space right now, I choose crypto coins over NFTs.

In my opinion, the NFT can be a long-term investment soon. I am following some interesting NFT projects, which seem to me will be profitable and successful. For example, I have heard about one new NFT project "reptile chronicles". They have such good arts and novels, it is so impressed me. So I hope the p2e game will be exciting.

[lalabotax]

Belgian police announced that for the first time in their history they seized NFT as a part of "fortune" (together with gold and silver coins worth €346000 and some crypto) related to money laundering case.

And then, there will be another big FUD again about NFTs, saying that NFTs is used for money laundry and should be banned. 
In this case, does it mean that money laundry is actually done in any way? Not only in the crypto world, but also in other ways or business, like Gold and Silver right? But, why sometimes crypto space gets worse attention? haha

Which means, now crypto and NFTs are treated as a "normal" assets.

Because they know that the NFTs are worthy, can be sold, and cashed out. Moreover, NFTs are very hype so far, many people invest in this space pretty much.
If the crypto industry is considered legal in that country, it  is normal to be said as a normal asset as others.

[btc_angela]

Seems way normal in terms of money laundering. These money can be laundered with anything. Have you ever seen how hell crazy auctions are done for paintings and antiques? That’s Money laundering in terms of tax savings by rich people. They know very they can hide their black assets with the help of government policies to protect the history of humans through these auctions. Everything is related and make sense if you study it closely. NFT is nothing but alternate form of auctions for artworks, (including stupid things) and there you go devil laughs in the background and plans to use it to launder the money.

I agree, it's been reported that this criminals are buying expensive paintings to hide their tainted money. So this is not the first time, but maybe they are going digital as well.

Anyhow, this is crypto, anyone can have their NFT as much has anyone can buy it with whatever kind of money they have (tainted or not). Just sad that it seems that crypto is being highlighted again as tools by these kind of individuals.

[Oilacris]

Bitcoin related to crime was seized and auctioned away by many countries for many years. I don't feel that much has change since then, maybe only the fact that newer coins/tokens were "added to the list", including the NFTs (but I already said tokens).

Not surprising. They would really be including anything that they want or like or something in related with crypto which is automatically considered to be part of it which means lets be more careful.

Anything could really be seized up and there's nothing we can do about it and expect that government does really love on confiscating everything as long it do violates.

They know that it wont be easy due to decentralized and anonymity aspect of some coins/nft etc. but its not impossible.

[funteki]

Belgian police announced that for the first time in their history they seized NFT as a part of "fortune" (together with gold and silver coins worth €346000 and some crypto) related to money laundering case.

https://www.brusselstimes.com/justice-belgium/234830/nfts-seized-by-police-for-the-first-time-ever-in-belgium

Which means, now crypto and NFTs are treated as a "normal" assets.

lol, NFT as a part of fortune