The US government are going after 127,271 bitcoins worth around $14b..

[CryptoGirl_200x]

I just came across this news that the US government's department of justice has filed a lawsuit that will allow them sieze BTC127,271 worth around $14 billion dollars, if they succeed, this will become the largest crypto currency ever confiscated in the present history..

Investigators are saying the bitcoins are linked to an international pig butchering scam - some kind of fraud network that thrived on fake investment schemes
Authorities handling the case also believe the bitcoins may be the ones that were stolen from a Chinese mining pool back in 2020..

The most interesting part...
The wallet hodling this bitcoins have remained untouched since the same year - 2020..
My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

Full details.. HERE

[letteredhub]

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The most interesting part...
The wallet hodling this bitcoins have remained untouched since the same year - 2020..
My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

Full details.. HERE

Anyone remember the HashFlare fraudulent scheme case... Perhaps I could be wrong with my thoughts but I think on this very case in the OP my best guess is that the wallet can be alone accessed if the wallet owners are caught which would give them access to the wallet keys. Or they would try cracking the wallet security to access the bitcoins and this can be done through quantum computing machines using the wallet public keys. Now the big question, can quantum computers actually crack bitcoin wallets? That's if they already exist in the first instance.

[Stalker22]

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My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

So, the coins havent moved since 2020, which probably means they already arrested the criminal and confiscated everything they found related to the case.  They likely already have the private key or seed phrase.  Thats usually how it goes in such cases.  The news is about the lawsuit to get permanent ownership of the coins, but they usually seize the wallets first and keep it quiet.  They wouldnt file the forfeiture lawsuit if the Bitcoin wasnt already in a government-controlled wallet.

[Alpha Marine]

My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

The funds are already in the possession of the US government, according to the Department of Justice

The U.S. Attorney’s Office for the Eastern District of New York and the Justice Department’s National Security Division also filed today a civil forfeiture complaint against approximately 127,271 Bitcoin, currently worth approximately $15 billion, that are proceeds and instrumentalities of the defendant’s fraud and money laundering schemes, and were previously stored in unhosted cryptocurrency wallets whose private keys the defendant had in his possession. Those funds (the Defendant Cryptocurrency) are presently in the custody of the U.S. government.

If he is found guilty, I wish he gets the maximum sentence, which is 40 years are according to the article. He didn't just scam people, but he was involved in human trafficking and forced labour, which is technically slavery. Seizing the money without him facing a maximum sentence wouldn't be enough justice if he is actually guilty. He had humans living like prisoners and living a luxurious lifestyle off the backs of "slaves". People like that shouldn't be shown any mercy because he had no mercy or sympathy whatsoever for the people he had frauded, nor the people he used as slaves.

[CryptoGirl_200x]

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My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

So, the coins havent moved since 2020, which probably means they already arrested the criminal and confiscated everything they found related to the case.  They likely already have the private key or seed phrase.  Thats usually how it goes in such cases.  The news is about the lawsuit to get permanent ownership of the coins, but they usually seize the wallets first and keep it quiet.  They wouldnt file the forfeiture lawsuit if the Bitcoin wasnt already in a government-controlled wallet.

Yeah, according to the news, the coins hasn't moved since 2020, and what you said is actually making good sense, it's very possible they must have possibly gained access into the wallet already and right now, what they are doing is to simply acquire the legal right to own and be able to spend the coins...

But then this leaves behind questions like...
- when was the criminals behind this stolen coins arrested and prosecuted?, is it possible they arrested and prosecuted the criminals off media? That is - without the media being aware?
- if they had had access to this wallet all along, don't you also think that they would have filed this lawsuit to claim the coin earlier than now?

My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

The funds are already in the possession of the US government, according to the

The U.S. Attorney’s Office for the Eastern District of New York and the Justice Department’s National Security Division also filed today a civil forfeiture complaint against approximately 127,271 Bitcoin, currently worth approximately $15 billion, that are proceeds and instrumentalities of the defendant’s fraud and money laundering schemes, and were previously stored in unhosted cryptocurrency wallets whose private keys the defendant had in his possession. Those funds (the Defendant Cryptocurrency) are presently in the custody of the U.S. government.

If he is found guilty, I wish he gets the maximum sentence, which is 40 years are according to the article. He didn't just scam people, but he was involved in human trafficking and forced labour, which is technically slaving. Seizing the money without him facing maximum sentence wouldn't be enough justice if he is actually guilty. He had humans living like prisoners and living a luxurious lifestyle off the backs of "slaves". People like that shouldn't be shown any mercy because he had no mercy or sympathy whatsoever for the people he frauded nor the people he used as slaves.

Thanks for this information, it came in while I was still typing the above response..
I can see you included a source link but it's not displayed on your comment, please check for errors and reshare, I will love to read the whole article. 🙏

[Jubilee58]

I just came across this news that the US government's department of justice has filed a lawsuit that will allow them sieze BTC127,271 worth around $14 billion dollars, if they succeed, this will become the largest crypto currency ever confiscated in the present history..

Investigators are saying the bitcoins are linked to an international pig butchering scam - some kind of fraud network that thrived on fake investment schemes
Authorities handling the case also believe the bitcoins may be the ones that were stolen from a Chinese mining pool back in 2020..

The most interesting part...
The wallet hodling this bitcoins have remained untouched since the same year - 2020..
My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

Full details.. HERE

United States of America is an advanced country, with technological advancement, for them to have spotted the wallet and filing a law suit to seize the bitcoin wallet, it is possible they must have gotten all the information concerning that particular wallet and recovering it won't be their problem.

This is really a large number of bitcoin, it must be one of this hackers, since 2020 till date , may be he is just waiting for a convenient time to move it or does the person feel , the particular wallet can not be spotted, the person must be very disappointed where ever he  is right now.

[red4slash]

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My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

So, the coins havent moved since 2020, which probably means they already arrested the criminal and confiscated everything they found related to the case.  They likely already have the private key or seed phrase.  Thats usually how it goes in such cases.  The news is about the lawsuit to get permanent ownership of the coins, but they usually seize the wallets first and keep it quiet.  They wouldnt file the forfeiture lawsuit if the Bitcoin wasnt already in a government-controlled wallet.

This could be the biggest possibility because after all, the government (not only AS referring to the government but almost the whole) will not be too bold if it is not safe for them to claim so this case is also not much different.

This would be the biggest seizure as well as the biggest gain that America has made on its work. Regardless of how they are behind the scenes, but indeed the way developed countries like America are full of considerations, especially since they are always in the spotlight so that it could be that they have been getting this for a long time but have just spoken up and made a statement so that apart from the benefits of the confiscation obtained, this also makes them try again in controlling the temporary division in terms of price.

[Nwada001]

Anyone remember the HashFlare fraudulent scheme case... Perhaps I could be wrong with my thoughts but I think on this very case in the OP my best guess is that the wallet can be alone accessed if the wallet owners are caught which would give them access to the wallet keys. Or they would try cracking the wallet security to access the bitcoins and this can be done through quantum computing machines using the wallet public keys. Now the big question, can quantum computers actually crack bitcoin wallets? That's if they already exist in the first instance.

There will be no need for the wallet to get cracked using a quantum computer; before us, the government will make this kind of move, which means they are already holding the person(s) with the wallet key under their custody. That's if they don't already have access to the wallet and are just waiting for the right permission to move everything out, or they will have to offer the right person under their custody the right deal that can persuade the person to give out the access to the wallet. There won't be any need for waiting for quantum.

[JiiBs]

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My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

So, the coins havent moved since 2020, which probably means they already arrested the criminal and confiscated everything they found related to the case. 

That’s my thought, as a case needs to be built on someone and not just an idea. In this case, the defendant is Chen Zhi whom is reported to run a romance scam where they lure victims into investing in fraudulent cryptocurrency packages and have another price group in Cambodia linked with them.

The numbers in this scam is enormous and tells just how successful the scam has been in the hands of these guys. Somehow, the IS just keeps up building a no cost Bitcoin portfolio and the reserves is growing.

[Alpha Marine]

I can see you included a source link but it's not displayed on your comment, please check for errors and reshare, I will love to read the whole article. 🙏

Thanks for calling my attention to that. I had no idea it was that way. I have edited the post and included the link properly.

There will be no need for the wallet to get cracked using a quantum computer; before us, the government will make this kind of move, which means they are already holding the person(s) with the wallet key under their custody. That's if they don't already have access to the wallet and are just waiting for the right permission to move everything out, or they will have to offer the right person under their custody the right deal that can persuade the person to give out the access to the wallet. There won't be any need for waiting for quantum.

According to them, they already have the secret phrases of the wallets. They said the person had it on him, which raises a lot of questions, but like you said, I'm pretty sure they won't be reporting a big case like this if it was air-tight. The FBI worked with the United Kingdom’s National Crime Agency in the investigation of this, which must have taken up to a year. They said it affected over 250 Americans. It's a very big case because it's not just money laundering or a scam at this point; it's human trafficking and forced labour.

[FinneysTrueVision]

The most interesting part...
The wallet hodling this bitcoins have remained untouched since the same year - 2020..
My personal question - how will the US government access this wallet even If they win the case to confiscate the bitcoin?

The government already confirmed that they have possession over those coins. The BTC is already seized. A forfeiture order is just a legal formality. Some people are speculating these coins will be used for the strategic Bitcoin reserve.

It is interesting that back in August there was a report that these coins had been stolen by hackers due to the criminal group using weak private keys possibly generated on Trust Wallet. It turns out, the U.S. government had actually taken possession, but we don’t really know the method they used to take control of those coins. If the U.S. gov is hacking people’s wallets, that is some North Korea level tactics.