US Enforcement Agencies to Seize $22M Worth Crypto

35 suspects in the arms and drugs trade were detained during a secret operation that lasted a year
27 June 2018   1053

Special agents of the US Department of Homeland Security, in cooperation with the secret service and the DEA, seized about 2,000 bitcoins and other crypto-currencies worth $ 22 million from the darknet sellers, according to the website of the US Department of Justice.

35 suspects in the arms and drugs trade were detained during a secret operation that lasted a year.

On darknet-sites, such as Silk Road 2, AlphaBay and Hansa, special agents offered to exchange crypto-currency for dollars allegedly for money laundering. As a result, they went to the traders of illegal goods. The prosecutor's office has already started more than 90 criminal cases

Criminals who think that they are safe on the Darknet are wrong,” said Deputy Attorney General Rosenstein.  “We can expose their networks, and we are determined to bring them to justice. Today, we arrested more than 35 alleged Darknet vendors.  We seized their weapons, their drugs, and $23.6 million of their ill-gotten gains. This nationwide enforcement effort will reduce the supply of deadly drugs like fentanyl that are killing an unprecedented number of Americans.  I want to thank our federal prosecutors, and the dedicated federal agents with DEA, Homeland Security Investigations, the Postal Inspection Service, and the Secret Service for their outstanding work.

Rod J. Rosenstein

Deputy Attorney General

As part of the special operation, the prosecutor's office charged two suspects Ryan Fares and Robert Swain, who from 2013 to 2017 sold drugs through a darknet. The authorities of the country want to recover from them $ 5.6 million in addition to the cost of 4000 BTC, allegedly received by them from illegal sales, and also confiscate two mansions and a car.

We note that the US government sells the confiscated cryptocurrency at auctions. So, in the period from 2013 to 2014, the country's authorities put up for sale 80 thousand bitcoins.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   149

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.