Crypto wallets seized and US authorities missed millions of dollars :
Law enforcement agencies after seizing the crypto wallets from criminals have left with some substantial amount of funds. There is a big risk to the company due to this.
The firms such as blockchain, anti-money laundering found that over past years US authorities are unable to catch hold on millions of dollars that are seized from criminals. The wallets are inaccessible by the company.
Report says that the missed funds are still in risk as the criminals can have access if they found out wallet keys. The law enforcement agencies in seizing $1 billion bitcoin they missed approximately $400k.
On November 5, the US Department of Justice announced that $1 billion was stolen by some anonymous person and he kept bitcoin in a wallet which he can use after getting the private key of that. This wallet was associated with a darknet Silk road.
The wallet contains 693701 Bitcoin Diamond, 69370 Super Bitcoin, and 69370 Bitcoin and can be accessed by that malicious character after having the private keys to the wallet. Coinfirm needs to find out one or the other way to handle this mess.
A new service has been launched by the coinfirm, to recover the clients coins. These are reclaimed missed coins, and the target is to reclaim over $300 million from the criminals.
CEO and Co-founder at Coinfirm, Pawel Kuskowski, comments that protection of customer and integrity of the market is critical for the crypto market long term value. The latest service is released to recover bitcoins would be a great help to the blockchain community. It's been a recent development.
David Silver, a renowned crypto recovery US attorney, joined the respective firm as board of directors, a report confirms. The past exchanges can help the firm to recover funds.
Crypto Business World
CBW - External Analyst