340,000 Euro Worth of Bitcoin Seized During Darknet Bust

By August 16, 2016Bitcoin Business
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Darknet Bitcoin Drugs

German police officials have arrested four individuals suspected of selling drugs on the darknet. Keeping in mind how government officials and law enforcement agencies are cracking down on deep web users all over the country, this news is not entirely surprising. All four arrested individuals were active on a German darknet forum.

Buying and selling drugs is illegal, and the darknet is no exception to this rule. Then again, the Internet has facilitated this type of illegal business on a global scale. Ever since Silk Road came around, there has been an explosion in the number of darknet marketplaces all over the world.

Another Darknet Bust For Selling Drugs

Government officials and law enforcement agencies are working on ways to shut down these platforms. Moreover, they are also arresting vendors active on the deep web, particularly those who buy or sell drugs. Four German individuals were arrested recently, all of whom are suspected of dealing in cannabis, amphetamines, heroin, cocaine, and ecstasy pills.

German sources told us that these individuals made use of the BitMessage system to set up shipments or peer-to-peer sales. All payments were made through Bitcoin, which is often mistaken for being anonymous. Police officials raided the homes of these four individuals and confiscated significant amounts of drugs, as well as cash.

Furthermore, one of the four arrested people possessed Bitcoin at the time of the raid. According to sources, there was 340,000 EUR worth of Bitcoin in his wallet. Other computers and hard drives were confiscated as well, which may lead to discovering other Bitcoin balances.

For now, there is no word on when the trial will be held.It is evident these four individuals will have a hard time escaping jail time, though. With over 11 kg of amphetamines and 250 grammes of heroin confiscated, things are not looking good. Add the 1,425 ecstasy pills and 150 grammes of cocaine to that list, and things are looking bleak.

Once again, this story will not diminish Bitcoin as a viable payment method by any means. Darknet vendors are responsible for their own actions, and Bitcoin doesn’t necessarily facilitate their sales. Large quantities of cash were seized during the police raid as well. It is evident criminals will find a way to sell drugs regardless of which payment method they prefer.

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