NJ Cop Arrested for Selling Stolen Bitcoin Mining Hardware

A New Jersey police officer has been arrested for allegedly selling stolen Bitcoin mining hardware.

Vincent Saggese of the Plainfield Police Department is charged with official misconduct and receiving stolen property, according to Somerset County prosecutors. He reportedly met twice with an undercover agent from the prosecutor's office and negotiated the equipment's sale.

Saggese also allegedly conspired with an undercover agent to provide the address and photo of certain license plate owner, accepting $250 in return.

When arrested last Friday, the slip of paper in which he recorded the license plate information was supposedly discovered in his pocket. Officer Saggese has been released on bail.

The arrest comes nearly a month after two federal agents were also charged for abusing their powers to make unlawful gains during the course of the Silk Road investigation and defrauding bitcoin related businesses.

The events highlight another layer of complexity to the prospects of sustainable law enforcement in the crypto industry. The pseudo-anonymous nature of Bitcoin has found appeal with criminals, but has also tempted rogue law enforcement personnel hitherto constrained by the centralization of the traditional financial system.