Department of Justice seizes stolen Bitcoin

The US Department of Justice has seized stolen Bitcoin worth more than $4 billion.

Earlier this week, US officials charged two people with attempting to launder the money, after completing the largest ever confiscation of its kind.

The money was stolen by a hacker in 2016, when they successfully breached a cryptocurrency platform.

At the time, the stolen Bitcoin was valued at $71 million. But owing to the dramatic increase in Bitcoin's value, it's now worth billions of dollars.

Assistant Attorney General Kenneth Polite Jr said the case proved that the US government "will not allow cryptocurrency to be a safe haven for money laundering or a zone of lawlessness within our financial system".

In May, meanwhile, Elon Musk sent the value of Bitcoin into a spiral with a one-word tweet.

The billionaire invested in the cryptocurrency through his Tesla firm, but he undermined the value of the stock at the time by appearing to suggest he could be about to sell his shareholding.

The fall in value occurred after Elon responded to a tweet that read: "Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings. With the amount of hate @elonmusk is getting, I wouldn’t blame him… (sic)"

In response, the tech entrepreneur simply said: "Indeed."

The tweet prompted speculation that Elon would turn his back on Bitcoin and the share price quickly started to tumble.

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