Bitcoin Seized by US Court and Deposited into National Treasury: Nearly 70,000 BTC Confiscated in Silk Road Case
In a recent ruling, the US court has made a final confirmation regarding a significant decision concerning the infamous Silk Road and the world of cryptocurrency.
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US Court Orders the Seizure of Nearly 69,370 BTC
Mysterious Figure Assists Government in Decrypting Silk Road Cryptocurrency
Billions of Dollars in Cryptocurrency Treasure
The Notorious Cryptocurrency Legacy of the Dark Web Silk Road
The US court has determined the seizure of an astounding 69,370 bitcoins, as well as other cryptocurrencies such as Bitcoin Gold (BTG), Bitcoin SV (BSV), and Bitcoin Cash (BCH).
These funds are now under the control of the US government, thanks to an individual known as “X,” who successfully infiltrated Silk Road and gained control of its funds.
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As early as 2020, the US Department of Justice had already seized these cryptocurrencies, which were valued at over a staggering $1 billion at the time, and began seeking forfeiture.
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The US government is a holder of 200,000 bitcoins, but “value” is not its primary concern.
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Silk Road was founded and operated by Ross Ulbricht from 2011 to 2013 and gained notoriety for facilitating the sale of drugs and weapons. Ross Ulbricht is currently serving a life sentence and has agreed to pay $3 billion in stolen bitcoins to the US government, relinquishing partial rights to these bitcoins in 2022.
Bitcoin
Silk Road
Further Reading
$3 Billion Bitcoin Stolen by Wealthy Nerd, US Police: Accidentally Discovered as the Dark Web Thief of the Year
Bitcoin Drops Below $27k, Classic “US Government Seizes Bitcoin Transfer” Meme Strikes Again
