- Federal authorities seize $54 million in cryptocurrencies connected to drug kingpin Christopher Castelluzzo.
- The seized assets include 30,000 Ethereum tokens obtained through illegal activities.
- Castelluzzo attempted to launder the cryptocurrency from prison before law enforcement got him.
U.S. Attorney Philip Sellinger has announced that federal law enforcement authorities have seized $54 million worth of cryptocurrencies linked to Christopher Castelluzzo, the leader of a notorious drug ring based in New Jersey. The seizure marks a significant blow to Castelluzzo and his co-conspirators, whose illicit activities spanned from 2010 to 2015.
According to federal officials, at least 30,000 Ethereum tokens were discovered in crypto wallets owned by Castelluzzo and his associates. These wallets held the laundered proceeds from their illegal operations, which involved the distribution of mail-order cocaine and designer drugs.
Per the complaint, what initially started as an investment of $9,000 in Ethereum (ETH) from their drug proceeds had grown to $54 million. The complaint highlighted that Castelluzzo presently serves concurrent 20-year sentences in both feder…
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