IRS undercovers as Bitcoin Trader ‘Mr Coins’to nab dark web drug dealer
The Internal Revenue Service (IRS) set up an undercover account named “Mr Coins” and pretended to be a Bitcoin trader to expose a suspected dark web drug dealer. According to Forbes, the sting operation is the latest example of the IRS going undercover to uncover crooks, although it is a rare case of the IRS […]
Bitcoin worth $1.5M has been paid to a convicted drug dealer by the Swedish gov’t
The Swedish government has found itself in the unanticipated predicament of handing over $1.5 million in Bitcoin (BTC) to a convicted and then imprisoned drug dealer. The individual was found guilty in a Swedish court two years ago of illegally earning 36 Bitcoin through online narcotics transactions. The Swedish prosecutor had argued in court that […]
Drug dealer accused of laundering $136M worth of Bitcoin from prison
Ryan Farace also known as ‘Xanaxman’ has reportedly laundered $136 million in Bitcoin between October 2019 and April 2021 while serving his drug-dealing sentence in federal prison. According to The Baltimore Sun, Maryland officials have charged Ryan Farace, better known as “Xanaxman,” with laundering 2,933 BTC in less than three years. This sum is more […]