As reported by The Block, the United States Department of Justice has initiated legal action to seize over $54 million in cryptocurrency that was acquired through the proceeds of an illicit darknet narcotics operation in New Jersey.
In light of these developments, the US Department of Justice has filed a forfeiture case with the objective of confiscating 30,000 Ethereum (ETH) holdings associated with Christopher Castelluzzo, who has been convicted of drug trafficking.
The US Attorney’s Office has issued the following statement:
“Christopher Castelluzzo amassed Bitcoin through the sale of illicit substances on the dark web during the period spanning from 2010 to 2015. Subsequently, he invested the proceeds into Ethereum’s initial coin offering, which occurred in July 2014, resulting in an acquisition of 30,000 ETH.
The primary aim of the forfeiture action initiated today is to recover the substantial value of cryptocurrency that the defendant, Castelluzzo, derived from drug-related activities.
Whether the assets are in the form of conventional currency or the more intricate realm of cryptocurrency, we are committed to taking all necessary measures to seize the financial gains originating from the illegal actions of the defendants.”
FBI Special Agent James E. Dennehy emphasized, “Numerous criminals utilize cryptocurrency within the dark web to evade law enforcement scrutiny. Our substantial case, involving $54 million, serves as a stern reminder to those who wrongly assume that their illegal activities or gains cannot be traced. All wrongdoers will be held accountable, with tangible consequences in the real world.”
Christopher Castelluzzo has been sentenced to a 20-year prison term for drug trafficking and is currently serving that sentence.