A US court has seized roughly $8.3 million in XRP and Bitcoin from a Florida man who worked as a ransomware negotiator, tying two major cryptocurrencies to a federal cybercrime prosecution. T
A US court has seized roughly $8.3 million in XRP and Bitcoin from a Florida man who worked as a ransomware negotiator, tying two major cryptocurrencies to a federal cybercrime prosecution.
TLDR KEYPOINTS
The seizure targets crypto held in XRP and Bitcoin connected to the defendant, according to the US Department of Justice, which described a Florida ransomware negotiator who extorted and attacked multiple US victims before being sentenced to prison. For related coverage, see Dormant Bitcoin Wallet From 2011 Moves Funds for First Time in 14 Years.
Court records identify the defendant as Angelo Martino, whose plea agreement was filed in April 2026. The role of a ransomware negotiator places him inside the payment and extortion mechanics of a cybercrime operation rather than as a passive holder of the assets.
Reporting on the sentencing noted the case is connected to the BlackCat ransomware operation, according to Help Net Security. The prosecution combines a guilty plea, a prison term, and the forfeiture of crypto assets held across two networks.
The action is a court-ordered seizure rather than a voluntary transfer or an exchange freeze, meaning the assets pass through a judicial forfeiture process backed by the DOJ prosecution. That distinguishes it from private wallet losses or platform-level account restrictions, where no court adjudicates ownership.
Naming XRP alongside Bitcoin widens the case beyond a single-asset story, showing that enforcement asset tracing follows funds across different networks rather than one chain. Similar cross-border tracing was visible when Ireland's Criminal Assets Bureau seized 500 BTC with Europol support, and in South Korean authorities seizing crypto from tax delinquents.
For compliance teams, the takeaway is that crypto tied to extortion payments remains traceable and reachable through the courts, even when spread across assets like XRP and Bitcoin. The eight-figure forfeiture is large enough to draw attention from a general crypto audience, not just a single token community.
Enforcement headlines of this kind shape public perception of how crypto is used, sitting alongside larger actions such as the FBI's $8 billion crypto seizure. The presence of XRP in the case also lands as the asset draws separate market interest, including $131.94 million in net XRP ETF inflows this month.
The case is a single prosecution, and the broader significance rests on the mechanics it demonstrates: judicial forfeiture, multi-asset tracing, and crypto surfacing directly inside a cybercrime sentencing.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
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