Feds Seize $54M in Cryptocurrencies from Leader of New Jersey Drug Ring

Federal law enforcement officials have seized $54 million worth of cryptocurrencies from Christopher Castelluzzo, the leader of a New Jersey drug ring, and his co-conspirators. The funds were discovered in crypto wallets and were the laundered proceeds of the crew's mail-order cocaine and designer drug operations. Castelluzzo had intended to evade taxes and liquidate his holdings outside the country, and had discussed various offshore destinations for the crypto fortune while in prison. The U.S. Attorney's office stated that the forfeiture action should serve as a warning to those who believe their illicit behavior cannot be traced.