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US Authorities Seize $34M in One of the Country's Largest Crypto Confiscations
The funds were allegedly gained by selling illicit goods, including stolen credentials.
Updated May 11, 2023, 5:02 p.m. Published Apr 5, 2022, 11:25 a.m.
Federal prosecutors in south Florida seized $34 million in crypto from a man they allege was selling stolen credentials on the dark web, saying it was one of the country's largest confiscations of crypto.
- A resident of south Florida had brought in millions of dollars through over 100,000 sales of illicit items and stolen online account information, such as credentials for Netflix and Uber, on different dark web marketplaces, the U.S. Department of Justice said in a Monday statementhttps://www.justice.gov/usao-sdfl/pr/united-states-forfeits-millions-cryptocurrency-used-launder-illicit-dark-web-proceeds.
- Authorities seized the assets under a civil forfeiture complaint, a court proceeding against the property rather than a person. This type of action doesn't require the suspect to be convicted for the assets to be confiscated.
- The person was using a privacy mixer, also known as a tumbler, to obfuscate the transactions, which violated money laundering statutes, the DoJ said. Police found several different wallets related to the activity.
- A privacy mixer was also used by Hydra Market, a now-defunct Russian dark web marketplace that traded mainly drugs, German police said on Tuesday.
Read more: German Authorities Shut Down Russian Darknet Market, Seize $25M in Bitcoin
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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CFTC's acting chief Pham poised to go to crypto firm MoonPay once Mike Selig lands
The leader of the derivatives regulator is planning to join the crypto industry as the CFTC and other federal regulators work on policies to benefit the sector.
What to know:
- Commodity Futures Trading Commission Acting Chairman Caroline Pham confirmed again that she's heading to crypto firm MoonPay when the Senate confirms her replacement and he's sworn in.
- President Donald Trump's CFTC chair nominee Mike Selig was set for a Senate vote Wednesday evening, according to that chamber's schedule.
- Selig, currently an SEC official, would arrive at the CFTC just as several of Pham's crypto initiatives have gone live.
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