US Court Dismisses Lawsuit Over FBI Seizure of Bitcoin

A US court has ruled in favor of the FBI, dismissing a lawsuit filed by Michael Prem who claimed the agency deleted a hard drive containing 3,443 Bitcoin. The court concluded that the FBI acted appropriately and was not responsible for deleting the drive, which Prem had not previously reported as containing Bitcoin during his prison term. The ruling cited inconsistencies in Prem’s claims, including the fact that he initially reported only having $200-$1,500 worth of Bitcoin, later asserting a much higher net worth. This decision underscores the importance of transparency and timely reporting for individuals holding cryptocurrency assets.