Dark net drug dealer sued for laundering $ 137 million in bitcoins from prison

A Maryland Federal court has charged a dark web drug dealer from Maryland known as xanaxman with laundering $ 137 million worth of bitcoin from prison.

Xanaxman, whose real name is Ryan Faras, was arrested three years ago for selling Alprazolam, a form of Xanax, a potent alarming drug, on Dark internet Sundays.

In November 2018, the court ordered Faras to confiscate 4000 bitcoins earned from the drug sale. Bitcoin then cost $ 16,800, but today it would cost $ 187.2 million. He was also ordered to return $ 5.6 million in cash and real estate.

But faras was sentenced to 57 months in prison, according to a federal charge the court rejected Wednesday.

April Dec October 2019 to April 2021, with the help of Faras ‘ father, Joseph Faras, allegedly laundered drug proceeds, the indictment said.

February may have confiscated 2875 bitcoins and another batch of 59 bitcoins in May, the Bureau of narcotics said, in connection with the allegations. Today, that bitcoin will cost $ 137 million.

While the indictment mentions revenue from drug trafficking, it is unclear whether the government previously had bitcoin assets it did not know if it had somehow acquired bitcoin in prison.

Dark web and cryptography
Reliable data on the dark Web is difficult to obtain, let alone the use of cryptography on the dark web. As a venture, blockchain analyst company Chainalysis estimates that more than $ 800 million of cryptocurrencies were shipped to dark web Sundays in 2019.

Silk Road, a popular Sunday for buying illegal drugs on the dark web, was forced to shut down by the FBI in 2013. 173 991 agency bitcoins (then worth 33.6 million dollars), but still no bitcoins 444 000; 70 000 bitcoins mysteriously moved in the month of November 2020, according to blockchain analytics firm Elliptic who was a part of this party.

U.S. government auctions confiscated Bitcoin, usually at a premium. Entrepreneurial capitalist Tim Draper buys 30,000 Bi in 2014

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