TechFlow News On November 13, The Block reported that the U.S. Department of Justice filed a lawsuit on Tuesday, attempting to seize approximately $17.9 million worth of cryptocurrencies in a Binance account. The account is related to former FTX CEO Sam Bankman-Fried (SBF)'s alleged bribery of Chinese officials.
According to the indictment, in November 2021, SBF instructed Alameda Research to transfer 40 million USDT to Chinese officials in order to unfreeze approximately $1 billion in crypto assets frozen on two Chinese exchanges. The Binance account involved in the case contains cryptocurrencies such as Solana, Cardano, Ripple, Internet Computer, and Avalanche. As of press time, the account has a market value of approximately $17.9 million.
The action is the latest judicial development after SBF was sentenced to 25 years in prison in March after being found guilty by a jury on seven criminal charges involving defrauding FTX customers, lenders and investors.
