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Posted: 12/15/2017 2:30:15 PM EDT
https://arstechnica.com/tech-policy/2017/12/feds-moving-quickly-to-cash-in-on-seized-bitcoin-now-worth-8-4-million/

A federal judge in Utah has agreed to let the US government sell off a seized cache of more than 513 bitcoins (BTC) and 512 Bitcoin Cash (BCH). At current prices, that would yield approximately $8.4 million for the bitcoins and nearly $1 million for the BCH.

In a court filing, prosecutors noted that due to the volatility of the Bitcoin market, both coins risk losing value. Both the BTC and the BCH have already been transferred to government-controlled wallets.

The new round of seized digital currency belonged to a Utah man named Aaron Shamo, who prosecutors say led a multimillion-dollar ring of counterfeit pharmaceuticals, including oxycodone and alprazolam that were sold on Dark Web marketplaces. Shamo was arrested over a year ago—his trial has not yet been scheduled.
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Always think forfeiture.

Guy hasn't even been given a trial and the Feds already want to cash in.
Link Posted: 12/15/2017 2:55:58 PM EDT
[#1]
F.GOV
Link Posted: 12/15/2017 2:58:48 PM EDT
[#2]
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Quoted:
F.GOV
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So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked.
Link Posted: 12/15/2017 3:01:20 PM EDT
[#3]
Who needs the rule of law, and due process?  I wanna cash out that shit!

Link Posted: 12/15/2017 3:02:48 PM EDT
[#4]
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Quoted:
So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked.
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They don't even have to ARREST or CHARGE you to seize assets they believe to be related to the drug trade.
Link Posted: 12/15/2017 3:05:05 PM EDT
[#5]
Feds:  "It's worthless, and probably illegal."

"BUT WE'LL TAKE ALL OF IT THAT WE CAN GET OUR HANDS ON!!"
Link Posted: 12/15/2017 3:07:01 PM EDT
[#6]
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Quoted:
They don't even have to ARREST or CHARGE you to seize assets they believe to be related to the drug trade.
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Quoted:
Quoted:
So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked.
They don't even have to ARREST or CHARGE you to seize assets they believe to be related to the drug trade.
Yeah, don't you have to prove the assets are innocent? No presumption of innocence....
Link Posted: 12/15/2017 3:11:08 PM EDT
[#7]
Good for them.
Link Posted: 12/15/2017 3:12:21 PM EDT
[#8]
I hope Mr. Shamo beats the charges and sues the everloving piss out of the fedgov.
Link Posted: 12/15/2017 3:15:26 PM EDT
[#9]
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Quoted:
I hope Mr. Shamo beats the charges and sues the everloving piss out of the fedgov.
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How?  They took his cash.
Link Posted: 12/15/2017 3:15:42 PM EDT
[#10]
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Quoted:
Good for them.
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Link Posted: 12/15/2017 3:16:37 PM EDT
[#11]
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Quoted:
I hope Mr. Shamo beats the charges and sues the everloving piss out of the fedgov.
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I hope he sues as well. Fuck forfeiture laws.
Link Posted: 12/15/2017 3:18:47 PM EDT
[#12]
Some people simply aren't capable of comprehending liberty and due process.
Link Posted: 12/15/2017 3:20:39 PM EDT
[#13]
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Quoted:

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Why are you confused or shocked? There's plenty of big government, tyranny loving people on here. I'd say it composes 35-40% of this site.
Link Posted: 12/15/2017 3:21:14 PM EDT
[#14]
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Quoted:
How?  They took his cash.
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Quoted:
Quoted:
I hope Mr. Shamo beats the charges and sues the everloving piss out of the fedgov.
How?  They took his cash.
Maybe Aimless can pro bono
Link Posted: 12/15/2017 3:23:44 PM EDT
[#15]
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Quoted:
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Quoted:
Good for them.
Oh, iron-fisted government is just kind of his thing.

Unless it's Trump.  He's terribly terribly upset that Trump is such a big meanie.
Link Posted: 12/15/2017 3:24:37 PM EDT
[#16]
Fuck them
Link Posted: 12/15/2017 3:29:21 PM EDT
[#17]
Who wants to guess that it has not gone to trial due to defendant motions and not the feds?
Link Posted: 12/15/2017 3:30:53 PM EDT
[#18]
Quoted:
https://arstechnica.com/tech-policy/2017/12/feds-moving-quickly-to-cash-in-on-seized-bitcoin-now-worth-8-4-million/

A federal judge in Utah has agreed to let the US government sell off a seized cache of more than 513 bitcoins (BTC) and 512 Bitcoin Cash (BCH). At current prices, that would yield approximately $8.4 million for the bitcoins and nearly $1 million for the BCH.

In a court filing, prosecutors noted that due to the volatility of the Bitcoin market, both coins risk losing value. Both the BTC and the BCH have already been transferred to government-controlled wallets.

The new round of seized digital currency belonged to a Utah man named Aaron Shamo, who prosecutors say led a multimillion-dollar ring of counterfeit pharmaceuticals, including oxycodone and alprazolam that were sold on Dark Web marketplaces. Shamo was arrested over a year ago—his trial has not yet been scheduled.
View Quote
Always think forfeiture.

Guy hasn't even been given a trial and the Feds already want to cash in.
View Quote
Let's say he gets his trial, and gets off, does he get the money or does the government have to reimburse him at current BTC market prices?
Link Posted: 12/15/2017 3:31:51 PM EDT
[#19]
So much for a secure currency .gov can't get it's hooks into...fucking pathetic.
Link Posted: 12/15/2017 3:33:44 PM EDT
[#20]
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Quoted:
So much for a secure currency .gov can't get it's hooks into...fucking pathetic.
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More than likely .gov got their hooks in because he didn't do his due diligence with respect to security or he told them how to get to it i.e. gave up his passwords.
Link Posted: 12/15/2017 3:39:00 PM EDT
[#21]
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Quoted:
Some people simply aren't capable of comprehending liberty and due process.
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That shit just gets in the way of Progress.
Link Posted: 12/15/2017 3:39:38 PM EDT
[#22]
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Quoted:
Good for them.
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F F S
Link Posted: 12/15/2017 3:44:00 PM EDT
[#23]
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Quoted:

So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked.
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Quoted:

So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked.
There's good reason. Also it wasn't just the govt doing this on a whim, it was OK'd by a district court judge.

Rule 32.2(b)(7) allows that “[a]t any time before the entry of a final order of forfeiture,
the Court, in accordance with Supplemental Rule G(7) of the Federal Rules of Civil Procedure,
may order the interlocutory sale of any property alleged to be forfeitable.”
Supplemental Rule G(7)(b)6 provides:
(b)

Interlocutory Sale or Delivery
(i)
Order to Sell. On motion by a party or a person having custody of the
property, the court may order all or party of the property sold if:
(A) The property is perishable or at risk of deterioration, decay, or injury
by being detained in custody pending the action;
(B) The expense of keeping the property is excessive or is disproportionate
to its fair market value;
(C) The property is subject to a mortgage or to taxes on which the owner is
in default; or
(D) The court finds other good cause.

The vehicles have been seized and are in the custody and control of the United States
Marshals Service. Every month, the USMS is accruing $465/month in storage fees for these
vehicles. The total expenses for these two vehicles currently is $5,010.70.
The BTC and BCH have been transferred to a Government wallet. Due to the volatile
market for cryptocurrencies, the BTC and BCH risk losing value during the pendency of the
forfeiture proceedings.
Link Posted: 12/15/2017 3:49:03 PM EDT
[#24]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

Why are you confused or shocked? There's plenty of big government, tyranny loving people on here. I'd say it composes 35-40% of this site.
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Agreed.
Link Posted: 12/15/2017 3:53:09 PM EDT
[#25]
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Quoted:
Good for them.
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Link Posted: 12/15/2017 4:51:06 PM EDT
[#26]
He should have kept cash and buried that shit in undisclosed locations.
Link Posted: 12/15/2017 4:55:18 PM EDT
[#27]
He should have kept cash and buried that shit in undisclosed locations.
Link Posted: 12/15/2017 6:19:19 PM EDT
[#28]
Should have just left it encrypted on his iphone, and not used fingerprint reader.

A better headline would be "Feds crying again about encryption." Instead of "Feds steal man's bitcoins."
Link Posted: 12/15/2017 6:23:43 PM EDT
[#29]
Discussion ForumsJump to Quoted PostQuote History
Quoted:There's good reason. Also it wasn't just the govt doing this on a whim, it was OK'd by a district court judge.
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Hold up. Storing some bitcoins costs 5grand/year? ... Why?
Link Posted: 12/15/2017 6:24:01 PM EDT
[#30]
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Quoted:
So much for a secure currency .gov can't get it's hooks into...fucking pathetic.
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Hardware wallet, passphrase protection, recovery words stored in a hole in the ground.  Fuck off confiscating bastards.
Link Posted: 12/15/2017 6:51:11 PM EDT
[#31]
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Quoted:
Should have just left it encrypted on his iphone, and not used fingerprint reader.

A better headline would be "Feds crying again about encryption." Instead of "Feds steal man's bitcoins."
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He was peddling opioids.

Glad they're being taken.
Link Posted: 12/15/2017 7:02:55 PM EDT
[#32]
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Quoted:

He was peddling opioids.

Glad they're being taken.
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Due process should still be a thing.

Until he is found guilty,  the feds should leave his shit alone.
Link Posted: 12/15/2017 7:06:44 PM EDT
[#33]
It would be interesting if he is found not guilty, and can find a judge to order the return of his bitcoins, and bitcoin cash, with interest.  No doubt the government would fight that order tooth and nail.
Link Posted: 12/15/2017 7:06:44 PM EDT
[#34]
The government is all about taking money from the subjects. Where do I find the dark web ?
Link Posted: 12/15/2017 7:11:38 PM EDT
[#35]
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Quoted:
Some people simply aren't capable of comprehending liberty and due process.
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"Political power grows out of the barrel of a gun."
-Mao Zedong
Link Posted: 12/15/2017 7:11:54 PM EDT
[#36]
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Quoted:

Due process should still be a thing.

Until he is found guilty,  the feds should leave his shit alone.
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The judge didn't just make up the ruling. In fact I cited the exact rule that was followed here. If people don't like the law, they can vote people in to change it.
Link Posted: 12/15/2017 7:16:06 PM EDT
[#37]
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Quoted:

He was peddling opioids.

Glad they're being taken.
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Did he kidnap people and inject them with crack needles for kicks, or was he handing over a product with well known side effects to paying customers?
Link Posted: 12/15/2017 7:38:10 PM EDT
[#38]
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Quoted:

Did he kidnap people and inject them with crack needles for kicks, or was he handing over a product with well known side effects to paying customers?
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Opioids and drugs like them are ruining many lives. Anyone caught peddling that stuff deserves to spend some time in jail. Glad they are dismantling him.

The number of people defending a drug dealer is concerning.
Link Posted: 12/15/2017 7:38:43 PM EDT
[#39]
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Quoted:

He was peddling opioids.

Glad they're being taken.
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Link Posted: 12/15/2017 7:39:03 PM EDT
[#40]
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Quoted:
Good for them.
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Link Posted: 12/15/2017 7:40:17 PM EDT
[#41]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

Opioids and drugs like them are ruining many lives. Anyone caught peddling that stuff deserves to spend some time in jail. Glad they are dismantling him.

The number of people defending a drug dealer is concerning.
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The number of people okay with the .gov stealing from people without convictions are concerning. Run along and pick up your can,
Link Posted: 12/15/2017 8:09:50 PM EDT
[#42]
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Quoted:
The government is all about taking money from the subjects. Where do I find the dark web ?
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Use TOR.
Link Posted: 12/15/2017 8:15:34 PM EDT
[#43]
Wasn't there a huge seizure from Silk Road or the guy associated with it?
Link Posted: 12/15/2017 8:20:40 PM EDT
[#44]
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Quoted:
So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked.
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Quoted:
Quoted:
F.GOV
So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked.
What the fuck? What if he winds up innocent?
Link Posted: 12/15/2017 8:26:02 PM EDT
[#45]
There should be a constitutional amendment against asset forfeiture.

And why the fuck has the guy’s trial not been scheduled after a fucking year? Either he’s guilty or not; plead him out, convict him, or cut him loose. That part is ALREADY in the fucking Constitution.
Link Posted: 12/15/2017 8:30:24 PM EDT
[#46]
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Quoted:
What the fuck? What if he winds up innocent?
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Quoted:
Quoted:
Quoted:
F.GOV
So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked.
What the fuck? What if he winds up innocent?
The top men still got home safe; isn’t that all that really matters?

Laughsinatf.gif
Link Posted: 12/15/2017 10:14:38 PM EDT
[#47]
This is just another symptom of the entropy our country is being subjected to.

Law enforcement, like politicians, have lost their fear of the people that empower them.
Link Posted: 12/15/2017 10:29:56 PM EDT
[#48]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Due process should still be a thing.

Until he is found guilty,  the feds should leave his shit alone.
View Quote View All Quotes
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Quoted:
Quoted:

He was peddling opioids.

Glad they're being taken.
Due process should still be a thing.

Until he is found guilty,  the feds should leave his shit alone.
100% this, the people cheering for this are <coc violation>.
Link Posted: 12/15/2017 10:32:51 PM EDT
[#49]
I bet Sessions is more worried about this guy than going after anyone important *cough* corruption with in the "Russian meddling" investigation *cough*
Link Posted: 12/15/2017 10:33:59 PM EDT
[#50]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
There should be a constitutional amendment against asset forfeiture.

And why the fuck has the guy’s trial not been scheduled after a fucking year? Either he’s guilty or not; plead him out, convict him, or cut him loose. That part is ALREADY in the fucking Constitution.
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They would never vote to give up the money they steal and they do what they want.
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