Justice is served. Netherland-based Maastricht University is set to recover nearly €500,000 worth of Bitcoin after the authorities managed to solve the infamous ransomware attack in December 2019. (Reporting via _prashantjha)
“The Netherlands Public Prosecution Service was able to seize cryptocurrencies worth approximately €500,000, which may be made available to UM. This is still less than the damages incurred by the university, but it is a nice sum to be used to support students in need.”
The seized funds are currently with the DPPS and a legal proceeding has been initiated to transfer the funds to the university. The executive board of the university has decided to utilize the recovered funds to help students in financial need. The seizure of crypto funds by authorities highlights the importance of th decentralized and transparent public ledger system used by BTC and crypto in general. While critics often portray crypto as an opaque and anonymous system preferred by criminals, research data indicate that less than 1% of current crypto in circulation is associated with illicit activities.
Even stolen and ransom crypto funds are often tracked down and recovered. For example, the United States authorities managed to
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