You will be logged out and redirected to the homepage

$23 million seized from late darknet kingpin's Bangkok mansion

18 Sep, 2018
by Arthur Sillers
News
$23 million seized from late darknet kingpin's Bangkok mansion

U.S. District Court have revealed that they have seized over $23 million in total assetts from a late darknet drug kingpin, who ran an encrypted marketplace ten times the size of the Silk Road named Alphabay

The same week Ross Ulbricht, the convicted mastermind behind the infamous Silk Road darknet marketplace received objections to his appeal, according to Finance Feed, police announced details of their seizure of the kingpin behind Alphabay, a darknet marketplace ten times the size.

Alexandre Cazes was arrested a little over a year ago and subsequently committed suicide in Thai prison awaiting charges. Police found digital evidence linking Cazes to the massive black market operation, as well as displays of opulence following Cazes massive wealth from the project.

According to Coindesk, the US courts released an itemized breakdown of the seizures made from Cazes Bangkok mansion. Along with over $8.8 million in various cryptocurrency, police also seized over $770,000 in cash, and a number of luxury cars including a Lamborghini Aventador LP700-4 which notably had a vanity license plate reading ‘TOR,’ the name of the encrypted internet browser needed to access Alphabay.

The arrest and death of Cazes will only serve to push crypto into the mainstream, with regulators continuing to work on friendlier legislature as crypto sheds its connotations of exclusive use among the back alleys of the internet marketplace.

The use of cryptocurrencies in black markets and extralegal financial transaction continues and likely will continue, with clones of both Alphabay and the Silk Road remaining online. Nonetheless, law enforcement shows that they will prosecute, even internationally, to take down the encrypted marketplace.

Add a comment

Check out the latest news