US Court Freezes Assets of Former Cybersecurity Negotiator

A former cybersecurity negotiator has had his illicit crypto portfolios seized by a US court. Angelo Martino, who was once hired to protect corporate wallets from hackers, was found to be secretly working with the BlackCat ransomware group.

Martino would leak information about his clients' budgets and insurance policies to the hackers, allowing them to dictate tougher terms. In return, he received a percentage of the cryptocurrency paid out in Bitcoin and XRP.

The court ordered the forfeiture of Martino's crypto portfolios, which had a total value of $8.37 million. The portfolios included 90.319 BTC ($5.84 million), 7,999.873 XMR (approximately $2.46 million), 56,174.15 XRP, and 39,760.79 Lumen.

Martino was convicted of his crimes and sentenced to 70 months in federal prison. The court's order effectively eliminates the financial foundation of his 'business'. He also had two luxury properties, premium vehicles, and motorboats seized as part of the forfeiture.