The US authorities have confiscated more than $ 1 billion worth of bitcoins associated with Silk Road. These are the same 69,370 BTC

On November 3, the US Division of Justice confiscated 69,370 BTC. These cash originate from the Silk Street darknet market.

About $ 1 billion of Bitcoin tied to the Silk Street market was seized by the US on Tuesday https://t.co/01FIMgW14Y

– Bloomberg Crypto (@crypto) November 5, 2020

Regulation enforcement officers additionally confiscated an equal quantity in Bitcoin Money, Bitcoin SV, and Bitcoin Gold. The company burdened that that is the biggest quantity of cryptocurrency ever seized by the US authorities.

In line with a courtroom doc, the proprietor of the handle, who goes by the pseudonym Invididual X, hacked into Silk Street and stole the cash. Earlier we already wrote that they had been withdrawn from the darknet market on Might 6, 2012. A 12 months after the withdrawal, they had been transferred to the handle the place that they had been stored till the second of confiscation.

On November 3, Invididual X signed an settlement to switch the cash to regulation enforcement. On November 4, the worth of cash exceeded $ 1 billion amid rising bitcoin costs.

The doc says that Silk Street founder Ross Ulbricht, who’s serving a life sentence, threatened Invididual X in an try and get well the funds, however didn’t succeed.

The doc says that Silk Street founder Ross Ulbricht, who’s serving a life sentence, threatened Invididual X in an try and get well the funds, however didn’t succeed.

Silk Street is believed to have earned 614,000 BTC in charges, though solely 174,000 BTC was seized from Ross Ulbricht upon arrest.

Prior to now, the US authorities has already offered Silk Street bitcoins at public sale. In July 2014, enterprise capitalist Tim Draper acquired 30,000 BTC confiscated from the darknet marketplace for $ 632.

As a reminder, the pockets.dat file for Invididual X has been offered on hacker boards for a number of years. When 69,370 BTC was transferred to a different handle, many got here to the conclusion that somebody had managed to discover a personal key.

Supply – ForkLog

Supply: bitschain.information

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