[2014-10-15] Bitcoin drug millions seized in Victoria

[botany]

Bitcoin drug millions seized in Victoria
http://www.theage.com.au/victoria/victoria-state-election-2014/bitcoin-drug-millions-seized-in-victoria-20141015-116bby.html

And media channels go back to linking bitcoin with drugs. 

[MrBig]

They don't mention how much BTC was seized. I wonder if these coins will be auctioned off like the SR ones, or dumped on an exchange.

[EternalWingsofGod]

A weird title name to an even stranger article

The digital currency is used by a small, but growing, number of Australian businesses and has also been adopted by criminals.

"Several million dollars" worth of bitcoins were seized under the Confiscation Act, the report said.

So more governments have some Bitcoin now they need to sell it and make it legal 
(Lol)

[notthematrix]

they are talking about 2012 2013
probalbly notting taken ,,, because they did not have the key!!
you can sieze it by law but if you dont have the key you cant enforce that law.
thats a new thing that they are not yet used to.
theese big nubers can be found back in blockhain easaly.
only big recent drop was the  the 26.000 btc whale
but that was not in 2012 and 2013..
so I wonder if they effectively siezed it or just by law.
in the last case noting happens to the funds of the owner.
Because the dont have the key to move the funds.

[MrBig]

they are talking about 2012 2013
probalbly notting taken ,,, because they did not have the key!!
you can sieze it by law but if you dont have the key you cant enforce that law.
thats a new thing that they are not yet used to.
theese big nubers can be found back in blockhain easaly.
only big recent drop was the  the 26.000 btc whale
but that was not in 2012 and 2013..
so I wonder if they effectively siezed it or just by law.
in the last case noting happens to the funds of the owner.
Because the dont have the key to move the funds.

Well the article says that if the accused is convicted, the btc will be forfeited and become property of the state, so I'm guessing they do have the private keys. At least according to this article.

[notthematrix]

they are talking about 2012 2013
probalbly notting taken ,,, because they did not have the key!!
you can sieze it by law but if you dont have the key you cant enforce that law.
thats a new thing that they are not yet used to.
theese big nubers can be found back in blockhain easaly.
only big recent drop was the  the 26.000 btc whale
but that was not in 2012 and 2013..
so I wonder if they effectively siezed it or just by law.
in the last case noting happens to the funds of the owner.
Because the dont have the key to move the funds.

Well the article says that if the accused is convicted, the btc will be forfeited and become property of the state, so I'm guessing they do have the private keys. At least according to this article.

That does not need to be true , the common drug case macro is often  used , just insert x to become property of state , in normal cases this will always work but in case of bitcoin this will not.
 

[marcus_of_augustus]

"Criminals Like To Use Money"

shock, horror, headline.

[segeln]

It seems "drug-bitcoins" are easier getting seized than "drug-cash".