On September 22, 2021, a U.S. district judge from San Antonio, Texas, granted a summary judgment on the civil forfeiture of 147 bitcoin worth $6.3 million held on a Trezor hardware wallet. According to the court filing, the crypto assets stemmed from a Target gift card fraud incident that started in 2016.
Gift Card Fraud Money Turned Into Bitcoin
The Western District of Texas, San Antonio Division Court has been dealing with a case that involved gift card fraud and bitcoins. According to the court filing, an American named Jaymes Allen Clark worked at the retail chain Target as an Executive Team Leader of Assets Protection in San Antonio, Texas. Allegedly, Clark utilized his Target credentials to access Target’s gift card database and he reportedly obtained recently activated gift cards. After Clark detected newly activated cards, he took screenshots of the gift card account information.
The filing then claims Clark shared the gift card info with co-conspirators who then leveraged the accounts to purchase iTunes cards…