UK police have seized 20.21 BTC valued at about $1.4 million, according to Decrypt. The Bitcoin was traced to marketplaces that operated between 2016 and 2019 before shutting down. The individual who held the cryptocurrency died before the assets were forfeited. The case highlights the continued handling of Bitcoin connected to defunct darknet platforms, even years after those marketplaces ceased operating. No further details about the marketplaces, the holder or the timing of the seizure were provided in the source material. The development is directly relevant to Bitcoin markets because it involves a substantial quantity of BTC and the authorities’ recovery of cryptocurrency associated with illicit online marketplaces.
Source
Decrypt
Written by Moneyiar based on reporting from the cited source and Moneyiar market data.
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