Alleged Hydra Administrator Refuses to Provide Access to His Crypto Wallet, Report Claims
A Moscow court has ordered the seizure of the crypto wallet of one of the alleged administrators of darknet market Hydra. Media reports reveal, however, that the man — who was arrested in Russia in mid-April — is refusing to share access to his presumed crypto stash with Russian law enforcement. Investigators Fail to Obtain Hydra Market Operator’s Cryptocurrency
The Russian judiciary wants to confiscate what it believes to be a record amount of cryptocurrency from a drug dealer’s crypto wallet, the business daily Kommersant reported this week, quoting a post on the Telegram news channel Mash.
The crypto stash belongs to an alleged co-founder and administrator of arguably the largest online marketplace on the dark web, Hydra, which was shut down by Germany not long ago.
Dmitry Olegovich Pavlov, a 30-year-old businessman from Cherepovets, was detained last month on a warrant from the Meshchansky District Court of Moscow and accused of production, sale, and distribution of drugs under Russia’s Criminal Code.
His arrest came shortly after the U.S. Department of Justice announced criminal charges against a Russian resident with the same names for conspiracy to distribute narcotics and conspiracy to commit money laundering.
According to the report, Pavlov’s wallet was seized with a court order and investigators think it stores hundreds of millions of dollars’ worth of cryptocurrency. Whether the state will be able to obtain the coins, however, is another question.
The owner refuses to give Russian authorities access to his wallet and the exact amount of digital currency stored there is yet to be established. Aside from the crypto wallet, Pavlov has been otherwise cooperative and police already have his phones and computers, Kommersant revealed.
Dmitry Pavlov is the first Hydra operator detained in the history of the Russian-language marketplace, the newspaper noted. The platform had been active since at least 2015 and had around 17 million customers before it was busted in early April when German law enforcement seized its server infrastructure and took down the darknet market’s website with support from U.S. agencies. Tags in this story ACCESS, Crypto, crypto stash, crypto wallet, Cryptocurrencies, Cryptocurrency, darknet, darknet market, Germany, Hydra, investigators, market, Marketplace, Russia, russian, U.S., Wallet
Do you expect Russian authorities to eventually gain access to Dmitry Pavlov’s crypto wallet? Tell us in the comments section below. Lubomir Tassev
Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration. Solana Halts Block Production, Validators Told to Prep for a Restart, Network"s Decentralization Criticized NEWS | 3 hours ago Cardano Spikes as Supporters Anticipate Vasil Hard Fork, Poll Shows ADA Expected to Hit $1 by the End of June NEWS | 9 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBiggest Movers: TRX Moves Towards 7-Month High as KSM Extends Recent Gains Next articleCreating a Lasting Legacy With Lifestory — Leave a Trace of Yourself Behind Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItToday"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits
As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method