Judge allows bail payed in cryptocurrency

Like  other precincts of public-service delivery, cryptocurrencies are getting steady acceptance in the judicial quarters as well. In a recent case, a Federal judge allowed an accused hacker to pay bail amount in cryptocurrency.

New Trend: Crypto Bail Bondsmen?

According to U.S. Attorney Office, an Italian/Serbian dual-citizen, Martin Marisch was charged with intrusion and hacking network installations of video-game development company Electronic Arts (EA) located in San Francisco Bay Area. He was previously arrested by the FBI on 8th August while trying to flee via a flight to Serbia.

Martin Marisch was presented in a Federal Court on the 9th of August and charges of illegal network intrusion were framed against him by the U.S. Attorney’s Office and the FBI. After the hearing, Federal Judge Jacquline Corley ordered the release of accused Marsich to half-way house on the condition that he pays an equivalent of $750,000 in cryptocurrencies for bail, which can be in the form of BTC, Altcoins or as the defendant may prefer.

Not a new precedent

This development may seem odd to people accustomed to conventional legal norms but U.S. Judges have full authority to select bail terms in accordance with the assets of the defendant. Real-estate possessions are oftentimes utilized to post bail charges. In this case, it became evident to the judge that the defendant has access to large sums of cryptocurrencies.

Marisch is alleged to have stolen critical information from EA systems to obtain in-game currency, which is used by gamers to buy and sell in-game items. According to the company, losses occurring from the selling of stolen video game accounts amount to around $324,000. While an affidavit presented by the FBI in the court stated that a San Francisco Bay Area video game company found 25,000 of their gaming user accounts had been compromised by this network intrusion leading to severe financial losses.

Remember folks, Crypto is comin!

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