United States prosecutors confiscated about $34 million in cryptocurrency from a Florida man who sold stolen account credentials for services such as Netflix Inc. (NASDAQ:NFLX), HBO and Uber Technologies Inc. (NYSE:UBER).
What Happened: The Bitcoin seized from the Parkland resident was initially worth about $47 million but is now valued at about $34 million following a price drop, according to a Wednesday report from crypto news outlet Bitcoinist. The United States Department of Justice said that it was one of the largest cryptocurrency seizures ever.
See Also: 6 Things People Buy On The Dark Net Market
The identity of the South Florida man involved whose cryptocurrency was seized has not been revealed and it was not specified if a formal indictment against him is being pursued.
The man was reportedly involved in over 100,000 illegal deals on darknet markets, but left little proof against him. The suspect did not contest the United States Department of Justice's seizure of his Bitcoin.
The report follows $2.3 million of Bitcoin being forfeited in a darknet market vendor arrest in mid-March after a group sold MDMA, ketamine and alprazolam (Xanax) online.
