Additionally, Guo cooperated with the government in the identification and return of the cash and cryptocurrency he embezzled through a forfeiture process.
In November 2019, the court granted the government’s request for a preliminary order of forfeiture and warrants to seize the stolen cash and cryptocurrency.
In February 2020, the government obtained a final order to forfeit the stolen property. Currently, the government is in a position to return them to Guo’s victims.
The FBI uses all resources to find and seize stolen cryptocurrency
In a statement, U.S. Attorney David Anderson of the Northern District of California said, “Some criminals believe mistakenly that cryptocurrency is beyond the reach of law enforcement. This case shows we can use criminal forfeiture to compensate fraud victims even when cryptocurrency is used in the fraud.”
On the other hand, the Federal Bureau of Investigation (FBI) San Francisco Special Agent in Charge Craig Fair commented, “In the financial sector, cryptocurrency has emerged as a significant threat as it affords criminals with a space to conduct an activity that is particularly difficult to trace and detect. In this case, the FBI relied upon partners in the private sector to respond appropriately to legal process so the FBI could make efforts to locate and seize stolen cryptocurrency.”
