Wednesday 23 October 2019
Have you ever wondered what happens to the Bitcoin that’s seized by police in drug cartel busts and other criminal investigations? In Australia, it’s been revealed that one case earned the police a twenty-fold profit. According to figures shared in the Australian Federal Police’s yearly report, authorities began proceedings to seize AUD $7,300 (USD$5,000) worth of Bitcoin in 2016. However, by the time the police was actually able to get its hands on the cryptocurrency its value had increased to AUD$154,000 (USD$105,000). That’s a whopping 2,000 percent increase! The case began in 2016 when Australian authorities apprehended an individual suspected…
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