25 Jun '13, 4pm

The DEA Just Seized 11 Bitcoins - Motherboard (blog) #bitcoin

The DEA Just Seized 11 Bitcoins - Motherboard (blog) #bitcoin

That comes out to $814.22 USD. Hardly staggering. But the Drug Enforcement Administration can nevertheless carve another notch in its bloated belt: In an apparent first for both the DEA and the world's foremost cryptocurrency, the agency has nabbed its first haul of bitcoins from an individual. The question is, did the DEA set up a bogus "honeypot" account to peddle drugs and then flag the substances as seized once payment cleared? A post on the virutal-currency futures blog Let's Talk Bitcoin suggests as much. But let's back up. Word of the bust, if it could be called that, comes in a DEA report issued today (.pdf ). The Official Notification notes a DEA seizure of 11.02 BTC from one Eric Daniel Hughes of South Carolina in April 2013. Here's the line item, buried on page 125 of 128: DISTRICT OF SOUTH CAROLINA 13-DEA-581051, 11.02 Bitcoins, Acct.#1ETDwGUC1QcjYuehFr3u1FD3Mv...

Full article: http://motherboard.vice.com/blog/the-dea-just-seized-11-b...

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