San Francisco judge orders bail in Bitcoin

A judge in San Fransico orders bail in Bitcoin to the criminal who undergone a Hacking activity in Electronic Arts. On Aug 8, the Federal Martin Marsich, 25, a Serbian and Italian national living in Udine, Italy, was arrested allegedly at SFO. The judge bailed him to pay a sum of $750,000 as Bitcoin or in the form of any other Cryptocurrency. Given the volatility of cryptocurrency, the amount required to pay this sum will be changing on a daily basis.

The news was first published by a local Newspaper called “Daily Post” said, “Martin Marisch has been charged with hacking the well-known video games company Electronic Arts, responsible for popular titles like FIFA, The Sims, and Battlefield.”  He hacked into the Electronic Arts central computer system and managed to get about 25,000 customers records.

while some members celebrating this as a mass adoption of Bitcoin. In the meantime, there’s an explanation behind this bail accepting Bitcoin. US assistant district attorney, Abraham Simmons, said that judges are managed an expansive range of carefulness with regards to authorizing bail payments. They can in many ways be tailored to the assets that the defendant has access to, such things as land or vehicles could likewise be upheld as a collateral against bail payment.

Cyber-criminals should take note, just because you have your wealth stored in cryptocurrency, away from the direct prying eyes of banks, governments and the taxmen – it doesn’t mean it is safe. Hopefully, now we may also hear similar instances from other US states in next few months.