Department Of Justice Seeks To Seize $16 Million In Crypto Assets Tied To FTX Bribery Case
The U.S. Department of Justice (DOJ) has filed a civil forfeiture complaint to seize approximately $16 million in cryptocurrency held in a Binance account.
What Happened: This action follows a year-long investigation into funds allegedly linked to bribes authorized by Sam Bankman-Fried, former CEO of the defunct crypto exchange FTX.
Court documents detail that the funds in question include tokens such as Internet Computer (CRYPTO: ICP), Avalanche (AVAX), Ripple (CRYPTO: XRP), Cardano (CRYPTO: ADA) and Solana (CRYPTO: SOL), all believed to stem from illicit transactions.
Notably, over half of the holdings, valued at $8.5 million, are in Solana, which has risen in value alongside the recent crypto market recovery, bringing the account’s total value to $16 million.
The origins of this case trace back to November 2021, when Bankman-Fried allegedly directed a $40 million (CRYPTO: USDT) payment from Alameda Research wallets to bribe Chinese officials …
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