U.S Judge Orders Accused to Pay Bail in Bitcoin

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U.S Judge Orders Accused to Pay Bail in Bitcoin
Investigators believe the accused owns significant crypto assets and the magistrate said during the hearing that he had the option of paying bail with bitcoin. Photo Credit: wfmz

A judge in the U.S. state of California judge has ordered an accused man to pay bail in bitcoin after he was charged with hacking the computer network of a computer game company.

Authorities allege that Martin Marsich, 25, illegally accessed the computer network of popular video game company Electronic Arts (EA) and gained access to the account of some 25,000 users which could be used to purchase in game-items.

A statement from the United States Attorney’s Office, said an FBI investigation revealed that Marsich sold off the compromised accounts on the dark web thereby causing the company losses of up to $324,000. EA apparently closed the affected accounts after the intrusion was discovered, the statement said.

Marsich of Italian/Serbian origin was apprehended at the San Francisco International Airport while trying to board a flight to Serbia. Investigators believe that he owns significant crypto assets including bitcoin and Magistrate Judge Corley said during the hearing that he could be released to a halfway house if he pays a bail of $750,000 in cryptocurrencies.

The bail conditions have raised quite a few eyebrows but Assistant District Attorney Abraham Simmons argues that it was hardly a novel decision. He further likened cryptocurrencies to other assets such as real estate.

In July, we reported that the British police had auctioned and kept some of the proceeds form 295 bitcoins it seized from a Latvian national convicted on charges of money laundering and the possession of fire arms.