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RE: An Australian Trader Had USD$430,000 of Crypto Confiscated by the United States Government On BTC-e: A Timely Reminder to Withdraw Your Funds From Exchanges, or Use the Openledger DEX.
Nice article. I hate to see anyone lose their money. Hopefully it will be returned in the end. Arrest like these only makes the general public more skeptical of investing in cryptocurrency. As with everything in the world someone will always try to take advantage of a situation and screw it up for the rest of us. I'm sure more details will come and each one will be another black eye on the industry.
You nailed it with that one. The problem is made worse by the media often not understanding what they are reporting on, which results in them reiterating the authorities that all of crypto (or at least BTC-e) is money laundering and crime.
Fingers crossed that the FBI returns the funds to BTC-e, but I would not hold my breath...