The U.S. Drug Enforcement Administration (DEA) seized Bitcoins from South Carolina resident Eric Daniel Hughes on July 7, The Daily Mail reports. The event marks the first time Bitcoins have been confiscated by the U.S. government.
Sources suggest DEA agents seized 11.02 Bitcoins from Hughes, which were valued at $814. Let’s Talk Bitcoin linked the funds to a transaction made on Silk Road, an eCommerce site that only accepts Bitcoins.
Hughes has not been charged by the federal government, though he has been charged with possession of illegal substances by local law enforcement.
Read the full report here.
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