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Crypto Kings Get Served: Your Decentralized Dreams Are About to Be Seized by the Man

A  illustration of a giant key unlocking a padlock with chains and bars surrounding it, while in the background, a cityscape is shown being drained by water as 'Crypto Kings' are seen fleeing on boats, their wealth disappearing into the depths.

Crypto bros, it’s time for a reality check: your precious cryptocurrency isn’t as ‘decentralized’ or ‘trustless’ as you claim when used in shady dealings like bribing Chinese officials! US prosecutors are now trying to seize $18.5 million worth of crypto allegedly linked to bribery payments made by FTX co-founder Sam Bankman-Fried, because let’s face it – your cryptocurrency is just a fancy way to move hot cash around the world.

Source: cointelegraph

United States prosecutors have asked a court for permission to seize crypto allegedly linked to bribes paid to Chinese officials by FTX co-founder Sam Bankman-Fried. In a Nov. 12 suit filed in a New York District Court, prosecutors alleged the Binance account — worth about $8.6 million as of Dec. 12, 2023, but since jumping to about $18.5 million due to an uptick across the market — was used to […]

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