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Province seeks forfeiture of Bitcoin wallet, worth $1.4 million, taken in first-ever seizure by Canadian police

Dwayne King, a former Toronto financial crimes officer, acted quickly to seize the electronic cash — otherwise, it could be gone in a “heartbeat,” he said in an interview this week.

“I was concerned it was going to be liquidated,” said King, now a senior manager at Grant Thornton, a business advisory firm. He set up a Toronto police online wallet and transferred the 288 coins over — marking law enforcement’s first-ever seizure of Bitcoin in Canada.

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