Dark Web Dealer from Canada under Court Order to Forfeit 281 Bitcoins


A drug dealer named Matthew Phan aged 30 years old is under the order of the Canadian judge to forfeit 281 Bitcoins to the Provincial Government in Toronto. It has been stated previously that not all of the Bitcoins had been used for the criminal purposes and that the defendant must forfeit 281 out of the 288 Bitcoins that amounts to worth $1.9 million (Bitcoin Forfeit). The court case of the Canadian dark web dealer first commenced in the year 2015 and became quite well known as it is the first case that involved a Bitcoin expert as the witness. In March of the year 2019, the CEO of the CipherTrace named Dave Jevans has been qualified as the first ever Bitcoin expert witness by the Canadian court. On acceptance of the request from the Ontario Crown Attorney approved by the Judge, Jevans was permitted to testify at the trial.

As per the reports, Phan used his Bitcoins to purchase the illegal narcotics and a gun from the dark web. In December 2018, Phan was pleaded guilty of these charges (Bitcoin Forfeit). The Crown Attorney named Erin Pancer has explained that it was clear from the evidence that Phan used the Cryptocurrency to finance the illegal activities. He also added to this that the court should be satisfied with what the law enforcement found on the computer of Phan. While in 2015 when Phan’s computer was searched for the first time, 288 Bitcoins were found that valued to $88,000. In late 2017, the Bitcoin price got hiked leading to the assets of Phan that now values to $7 million. Phan has also revealed that some of his Bitcoin possessions were used for trading gold. Although the judge was not convinced and she believed that Phan had been trading Cryptocurrency for a while.


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