Canada confiscates $1.9m worth Bitcoin in first of its kind case

Matthew Phan is a Canada based drug dealer, and he has recently been convicted of drug trafficking. Almost two million dollars ($1.9 m) worth of Bitcoin were confiscated from him as this money was being used for treacherous purposes.

Local media reported that such a case where Bitcoin was taken from a convict has never happened in Canada before. Matthew Phan was convicted because he pleaded guilty to committing the crimes he was accused of committing.

After conviction, Matthew Phan insisted that all of his Bitcoin was not used for treacherous purposes. Justice Jane Kelly is the one supervising the case. Despite his statement as mentioned earlier Justice Jane Kelly still gave the order to confiscate almost two hundred and eighty-two (281.41) Bitcoin from Matthew Phan’s computer.

Justice Jane Kelly further elaborated to justify her decision stating that there was a lot of evidence to back up the belief that Matthew Phan was selling illegal drugs by using this money.

With that being said seven point two three (7.23 )Bitcoin will remain in his computer as there is enough evidence to suggest that this sum was not used to commit crimes.

Many are saying that Matthew Phan has even surpassed the notorious dark web drug dealer commonly called Oxymonster. Oxymonster’s real name is Gal Vallerius, and he was caught and sent to prison for twenty years.

Matthew Phan is yet to be sentenced, but many are speculating that his sentence will be longer than Oxymonster’s.