$4.3 Million in Cryptocurrency Seized from New Zealand Digital Pirate
According to a report in local publication NZ Herald, police have seized around US$5 million in cryptocurrency and bank deposits from Jaron David McIvor. The seizure follows a US investigation into McIvor’s alleged involvement in an online piracy website.
International payments processing firm PayPal initially flagged a series of transactions as suspicious to the IRS. The agency linked these with McIvor and reported its findings to New Zealand’s Asset Recovery Unit. The funds were restrained by the Criminal Proceeds Recovery act. It is by far the largest seizure of cryptocurrency ever in New Zealand.