Ryan Farace, a notorious drug dealer, was indicted for laundering 2,933 Bitcoin while in prison. The case involves the laundering of approximately $137 million in Bitcoin, which is equivalent to $5.6 million in cash. The case is ongoing, and the US government is seeking to recover the seized Bitcoin.
Key Facts
- Farace was imprisoned for selling Xanax, a strong form of the drug.
- He laundered 2,933 Bitcoin while in prison, which is equivalent to $137 million.
- The US government took 2,875 Bitcoin in February and another 59 Bitcoin in May, totaling $137 million.
- The Bitcoin holdings are unclear if they occurred before or after Farace’s prison service.
Investigation and Charges
The US Drug Enforcement Administration (DE