Feds Seize $25k in Bitcoin from Software Piracy Racket

Federal officials recently raided a software piracy racket and seized a wide range of upscale assets, which includes a huge chunk of digital currencies Bitcoin and Litecoin.
As per the available information, the alleged software counterfeiting organization – known as Technolutions – had around 105 BTC and 999 LTC, which were held by its alleged operator Rex Yang. Other items cited in aforesaid civil forfeiture included $7 million in cash, gold and silver coins, as well as expensive rings, cars and one Rolex watch. They all were seized from a number of companies located in Maryland, Washington, Missouri, and Nevada – possibly working under the same racket.
The US agency also put a restraining order on Yang’s properties in Seattle, which include a number of buildings and $2.2 million in funds.

This post was published at NewsBTC on February 10, 2015.