Puerto Rico Resident Defies Bitcoin Seizure Order, Faces $10,000 a Day Fine
The court filing described these transfers as "frenzied," and having taken place with "intuition more accurate than the Oracle at Delphi."
Connor Sephton
By Connor Sephton
Mar 11, 2025
3 min read
Image: Shutterstock

A man who has refused to hand over almost 120 Bitcoin, currently worth $9.7 million, to the U.S. government has been found in contempt of court. The judge has warned he will be fined $10,000 a day until the funds are transferred.

Court filings accuse Juan Carlos Reynoso of "flagrantly violating" a warrant issued by a judge in Puerto Rico, which gave him 24 hours to send the $9.7 million worth of Bitcoin to a government-controlled address.

He allegedly moved the funds to five separate crypto wallets, in a series of transactions that were subsequently traced on chain.

The court filing described these transfers as "frenzied," and having taken place with "intuition more accurate than the Oracle at Delphi.