US Department of Justice Charges Federal Detainee Over Transfer of $290,000 in Confiscated Crypto Assets

TechFlow reports, on July 10, according to The Block, the U.S. Department of Justice charged Bulgarian national in federal custody Rossen G. Iossifov with illegally transferring approximately $290,000 worth of cryptocurrency that had been seized and forfeited by the U.S. government. Prosecutors stated that he transferred the relevant assets through multiple cryptocurrency exchanges and illegal mixing services in January 2024, with the intent to prevent the government from taking control of the funds. Iossifov was previously convicted in 2021 for participating in online auction fraud and cryptocurrency money laundering cases. If convicted on the new charges, he could face up to 25 years in prison.