Now a days, there are upcoming scam stories every day where mastermind attackers wave away huge amounts of digital currencies in a single go. Even if they are put into an enquiry, after most certain if caught obviously there’s a lot can be done with the cryptocurrencies now even sitting in jail.
The criminal named Martin Marisch was filed against hacking the video games producer – Electronic Arts. Following this hacks, Marisch was able to access the private credentials of more than 25K customers. It was alleged that these records were then supposed to be used for some illicit type of gain but before any of this could happen, the arrest was made.
The Judge incharge of the case ‘Jacqueline Corley’ at Sans Francisco city agreed accepting a payment of $750,000.00 USD as fine in cryptocurrencies to cover the value of bail payment. The courts perceived that that cryptocurrency is volatile and therefore have noted that the payment worth would amend each day, which would prevent the accused to get away paying less for this big quantity of fine.
The U.S. assistant district attorney ‘Abraham Simmons’ mentioning this scenario said that:
“Judges have a broad spectrum of discretion once it involves implementing bail payments. They in some way be tailored to the assets that the accused has access to, such things as property or cars might even be implemented as collateral against bail payments.”
This is quite necessary in some aspects that several still assume that their crypto portfolio is safe from enforcement, particularly within the instance they find progressing to jail. What this proves is that even cryptocurrency holdings aren’t higher than the law, if you have got only crypto, the authorities would come up with some way to get you paid.