certify
Home arrow Article arrow Article Detail

Crypto wallets seized and US authorities missed millions of dollars :

Profile Image

Crypto Business World Follow

INDIA

Dec, 04 2020

Dec, 04 2020

likes | comments 0

Article Image

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.


likes | comments 0

Profile Image

Crypto Business World

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
BIS to Monitor Stablecoins, Focus on CBDC Experiments

The Bank for International Settlements (BIS), known as the "bank for central banks," plans to ramp up its research of central bank digital currencies (CBDCs) through its research and development arm..;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.