US govt seized $2.9m from MT. Gox's Dwolla account

The Dwolla account holding funds belonging to bitcoin exchange MT. Gox that was seized by the US government earlier this year held more than $2.9 million, newly filed court documents show.

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US govt seized $2.9m from MT. Gox's Dwolla account

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Dwolla was served the court order in May by the US Department of Homeland Security, which claimed probable cause that MT. Gox was operating as an unlicensed money transmitting business.

Tech publication GigaOM has now dug up a filing in Baltimore federal court which shows that the account contained $2,915,507.40 and belonged to Mutum Sigillum LLC, a US subsidiary of Tokyo-based MT. Gox.

In the wake of the Homeland Security action, MT. Gox owner Mark Karpeles stated that the exchange is in compliance with federal and state financial regulations. 

News of how much money was in the account has caused consternation among bitcoin enthusiasts on Reddit, with posters asking whether MT. Gox is solvent and has the cash to let customers withdraw their funds.

Update: According to documents obtained by The Genesis Block, another $2.1 million has been seized from two MT. Gox accounts held with Wells Fargo, taking the total amount held by the government to around $5 million.

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