Although the leading cryptocurrency Bitcoin (BTC) has been used by many legitimate institutions and individuals since its inception, it is still frequently used for illegal transactions. The most recent example was the arrest of five drug dealers. Five drug dealers may currently be sentenced to 5 to 20 years in prison for selling drugs and laundering their income with Bitcoin.
Drug Dealers Caught with Bitcoin
Wyatt Pasek was sentenced to 17.5 years in prison for selling counterfeit opioid pills, while Kevin Dean McCoy, Silvester Ruelas, Amber Worrell, and Peggy Gomez were sentenced to different prison terms for selling heroin, meth and cocaine over the dark web. The only thing all five drug dealers did in common was that they demanded their income as crypto money.
Pasek, also known as oxygod in online markets, was convicted last November for drug trafficking, money laundering and illegal possession of weapons. Pasek has reached an agreement with the court and will hand over $ 21,000 cash, abir Bitcoin necklace of gold and diamond ”, a diamond watch, two gold nuggets, Block a blockchain wallet containing thousands of dollars of Bitcoin and other cryptocurrencies” to the authorities.
In addition, McCoy, Ruelas, Worrell, and Gomez were also found guilty of money laundering. Authorities found gold, silver and platinum ingots, the Seattle Seahawks Super Bowl ring, an AK-47, a 12-gauge pump rifle and a 0.50-caliber long-barreled sniper rifle.
The White House issued a statement a week earlier, stressing that crypto money was mainly used for drug sales.