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Dark Web Drug Dealer Sentenced To 20 Years Imprisonment, With Over $700,000 Worth Of Cryptocurrency Confiscated

A dark web drug dealer, Gal Vallerius, known as Oxymonster in the criminal circle will serve the jail term of 20 years and has had his crypto holdings in the value of $700,000 seized by the U.S. government.
Gal Vallerius, who’s 36, got arrested in 2017 while visiting the world beard and mustache championship in Austin Texas. Vallerius is of French and Israeli origin and was charged with drug dealing and money laundering. His case was rounded up with a sentence of 20 years jail term by a U.S. district court recently, and this will see him leave jail in 2038.
The convict pleaded guilty to drug dealing which involved the selling of narcotics, heroin, and cocaine in particular, and in exchange for his products he charged bitcoin and bitcoin cash. After his arrest and prosecution, over 100 BTC was recovered from his crypto wallet, also is 120 bitcoin cash recovered- this all summed up to a total of $700,000, which will be taken over by the government. Vallerius had to submit all the key access to the crypto holdings to enable the government agent to access the funds.
The trend of government confiscating cryptocurrency holdings of convicted criminals brings to question what the government does with these cryptocurrencies.
Vallerius’ case is not the first as the U.S. government has become prominent for cryptocurrency confiscation. Notable of such is confiscation of the Cryptocurrency holding of a big dark web operator, Ross Ulbricht. He was sentenced to double life imprisonment and 40 years jail term without parole for founding and to operate a dark web platform. About 144 BTC was confiscated from his laptop then when 1 BTC was worth $300. The government agency later turned the cryptocurrency into cash through auctions. This action was later criticized by crypto enthusiasts in 2017, that it would have worth more if auctioned during the bullish trend.
Also, a crypto confiscation also took place two days ago when an Irish citizen pleaded guilty to planning to set up drug trade on the silk road. So also, a year ago a California court seized cryptos worth $8 million from Alexander Cazes that killed himself in Thailand after he was accused of operating Alphabay, a dark web market.

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