The Department of Justice just seized crypto and 145 web domains from what they allege was an online marketplace for stolen credit cards
The U.S. Department of Justice (DOJ) has seized 145 internet domains and an undisclosed amount of cryptocurrency from an internet marketplace they allege facilitated the exchange of stolen credit cards, the agency announced on Wednesday.
Known as BidenCash, the marketplace began in 2022, and attracted more than 117,000 customers, according to the DOJ. The platform's administrators allegedly charged a fee on each transaction that took place on the website, generating over $17 million in its three years of operating, according to the agency.
It remains unclear what role cryptocurrency played in the operation's payment infrastructure. It is also unknown how much and what kind of cryptocurrency was seized from the operation.
The DOJ did not immediately respond to a request for comment from Fortune.
The U.S. government has been seizing cryptocurrency associated with alleged criminal activity since as far back as 2013, but the sums collected have become larger over the years.
One of the largest seizures to date was in 2022, when the U.S. government confiscated approximately 120,000 Bitcoins—now worth more than $12 billion—that they say was stolen during a hack of crypto exchange Bitfinex.
Prior to this year, it was customary for the U.S. Marshals Service to auction off seized Bitcoin, like it does with other assets like real estate and cars. However, that changed in March when President Donald Trump signed an executive order to establish a strategic Bitcoin reserve, and separate digital asset stockpile which will include other cryptocurrencies like Ethereum and Solana.
The executive order stated that the government would create the stockpile with crypto seized from criminal activity. While it is unclear exactly how much crypto the government owns, the White House's AI and crypto czar David Sacks said at the time that it held around 200,000 Bitcoins, worth over $20 billion at the currency's current price.
This story was originally featured on Fortune.com
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