Police Seized Nearly $500,000 in BTC From Andrew and Tristan Tate
Crypto News

Police Seized Nearly $500,000 in BTC From Andrew and Tristan Tate

2m
7 months ago

The Instagram influencer, kickboxer, misogynist and alleged human trafficker has already had about $4 million in luxury cars, watches, homes and cash seized by Romanian authorities.

Police Seized Nearly $500,000 in BTC From Andrew and Tristan Tate

Índice

Romanian authorities have seized about 21 BTC from Instagram influencer and alleged human trafficker and rapist Andrew Tate and his brother Tristan.

A spokesperson for the two brothers — both of whom were arrested on the rape and trafficking charges — said that authorities have seized a a pair of digital wallet holding about 21 BTC, worth about $465,000, Decrypt reported.

That includes about 5 BTC from Andrew Tate, worth about $110,000, that was held in a wallet in his girlfriend's name.

His brother Tristan had a wallet with about 16 BTC, worth about $355,000.

A champion kickboxer, Tate became famous and then infamous for his wildly misogynistic comments while running Hustler's University, an online crypto trading school. He was also banned from Instagram and other social media platforms as a result of comments like saying rape victims must "bear responsibility" for their attacks and suggesting he'd hit a woman who cheated on him with a machete.
Earlier this month a Romanian appeals court refused his appeal of an extended detention as prosecutors built a case against him that also includes forming an organized crime group, saying he was a "flight risk."

How Much Bitcoin?

It's unlikely that the seized bitcoins represent his total crypto holdings. As far back as last January, blockchain intelligence firm Elliptic said the Hustler's University digital wallets had received about $2.5 million.

Tate has said he pulled in that much monthly from the $49 tuition fees he charges, as well as earning millions from his own trading. He has also spoken about using crypto to avoid sending money via banks, which ask questions about the transfers.

By which he means anti-money laundering information requirements.

"Whereas with Bitcoin, I press two buttons, it costs me 35 cents and it's done in three minutes," he said in one online clip. "That's why Bitcoin will never go to zero."

4 people liked this article