As part of an ongoing criminal case, a judge in Canada has ordered that a local online drug dealer must forfeit about 281.41 bitcoin (worth about $1.4 million) after it was found that he used the cryptocurrency to fund his illegal activities. It’s been reported as Canada’s largest-ever bitcoin forfeiture.
In 2015, local authorities seized the dealer’s laptop and the BTC tokens (worth about $65,885 at the time) were found, according to a report by the Toronto Star. The dealer, Matthew Phan, pleaded guilty to the charges of possessing illegal substances, including ketamine, cocaine and PCP, and attempting to import a gun, in December 2018.
At a forfeiture hearing last month, Phan begged the court to allow him to keep half of the cryptocurrencies discovered, saying that he didn’t use all of them for illegal purposes.
“Phan, who fought the forfeiture, argued not all of the bitcoins were used for nefarious purposes and that some were used to buy and sell gold,” per the report. “As well, he claimed he was selling the…