IRS seized $3.5 billion in crypto this fiscal year

Written By Francisko Kim

Key Points:

  • The Internal Revenue Service’s (IRS) Criminial Investigation Annual Report was published earlier today and included that $3.5B in cryptocurrency has been seized and accounts for 93% of all CI Seizures

  • Significant cases include (on page 8 of the annual report):

    • Silk Road: >$1 billion seized in crypto on Nov 5, 2020 was the largest seizure of cryptocurrency so far in U.S. history.

    • Bitcoin Fog: A darkweb bitcoin money laundering service, April 27, 2021. The service moved over 1.2 million bitcoin (around $335 million at the time of the transactions)

Francisko Kim
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