Breaking: A man was held in contempt in federal court for refusing to surrender 119.65 BTC that was subject to a seizure order.
He has to pay $10,000 for each day he doesn't comply.
Mallard Beakman ₿⚡🥕
2,544 posts
Mallard Beakman ₿⚡🥕
@Bill_Fowler_
COVID sanity. Bitcoin not crypto. Gay not LGBT. Biochemist to IP litigator.
Atlanta, GA
Joined November 2021
- Replying to @DocStrangelove2Not that basic bitch floor lamp behind those shitty folding chairs 😭
- Replying to @CaptainintrigueWhat makes you think he can hop on a plane? Also, which non-extradition country are you choosing? They're typically not the nicest. It would've been better if bitcoin had privacy features that could've avoided this situation.
- Replying to @Bill_Fowler_Importantly, Reynoso's bitcoin withdrawal from the address at issue proved that he could have complied with the court's seizure order. This is why the "boating accident" defense holds no water once you start spending your bitcoin. Cc @brian_trollz
- Replying to @Bill_Fowler_Because bitcoin is an open and transparent ledger, it was trivial for the government to prove Reynoso's willful disregard for the seizure order. CC @sethforprivacy
- Replying to @Bill_Fowler_The FBI found the Defendant Reynoso's laptop and noticed @Ledger software on it last year. The court issued a seizure warrant for the BTC held in bc1q9mv775udnfza5ccrgg2 cvh73fj7sscvxm2er2h on January 31, 2025.
- Replying to @Bill_Fowler_Instead of transferring the BTC to the government, however, the court found that Reynoso transferred BTC to other wallets.
- Replying to @Bill_Fowler_The court rejected Reynoso's argument that the seizure order violated the 5th Amendment. The court noted that in United States v. Apple Mac Pro Comp., the 3rd Circuit upheld a contempt order where a defendant failed to decrypt his laptop as ordered.
- Replying to @Bill_Fowler_In that case, the defendant was held in civil confinement for four years for his refusal to comply with the decryption order.
- Someone at Bitcoin 2025 needs to convince @JDVance to get @realDonaldTrump to pardon the Samourai Wallet developers. The DOJ is waging lawfare against open-source software developers under an egregious interpretation of the law that could make any bitcoin miner the next target.
- Replying to @Bill_Fowler_I don't know why Reynoso was under investigation, but I know the gov't found his bitcoin address by seizing his laptop and taking a screenshot of the @Ledger interface on it. A text file located on his Apple account confirmed the same.
- Replying to @Bill_Fowler_The court held Reynoso in contempt. Until he transfers the 119.65 BTC, he'll be fined $10,000 every day.
- On February 27, a hacker stole 521.99931468 bitcoin ($40 million) from a Ledger wallet. The victim just sued the unknown hacker as well as exchanges where stolen funds were sent. How did this happen? Let’s take a look.
