DEA Confiscates Digital Currency BitCoins After Drug Bust

BitCoins Taken in Federal Drug Bust In the first case of its kind, a Charleston man had his electronic currency, known as BitCoins, seized by federal authorities in relation to a drug bust in April. This is the first time ever that the federal government has seized, as an asset, electronic currency. The US Drug Enforcement Agency recently posted a forfeiture notice indicating that they had seized 11.02 BitCoins - $814 - from 31-year-old Eric Daniel Hughes, for allegedly violating the Controlled Substances Act. Hughes has not yet received … [Read more...]