Here’s why the FBI didn’t let an alleged hacker use cryptocurrency to pay his bail
After being arrested by federal agents for allegedly hacking videogame giant Electronic Arts Inc.’s systems, Martin Marsich tried to post a $750,000 bond with cryptocurrency.
That’s when Marsich, federal authorities and the court ran into problems that show how difficult it can be to use digital currency in the real world, even as it becomes more prevalent online. In this case making its way through federal court in San Francisco, there were concerns that selling a large stash of small and lightly traded coins could have caused severe fluctuations in their prices.
Last known to reside in Italy, Marsich, 25, has been accused by the Justice Department and Federal Bureau of Investigation of infiltrating EA EA, -1.31% systems related to its “FIFA” soccer franchise and stealing roughly $324,000 worth of digital goods, according to court documents. Arrested at San Francisco International Airport amid a sightseeing trip to Los Angeles, Marsich tried to use his stash of cryptocurrency as bail.