US Seized More Than $1B in Silk Road–Linked Bitcoins, Seeks Forfeiture

Tuesday’s seizure, linked to the first dark silk market, is that the largest the us has done, the Department of Justice said.
Court documents reveal that the seized assets included quite 69,370 bitcoins and almost equivalent amounts of forced cryptocurrencies bitcoin cash (BCH), bitcoin gold (BTG) and bitcoin satoshi vision (BSV).
Prosecutors say an unknown hacker stole the treasure from the Silk Road and carried it within the wallet during which they sat from April 2013 until the kidnapping on Tuesday.
The man accepted the government’s abduction on Tuesday.
The news comes just days after blockchain news company Elliptic announced that a portfolio owned by the Silk Road market had shifted nearly $ 1 billion into bitcoins (BTC, -0.07%) earlier in the week .
This was the administration’s first transaction since 2015, when it switched 101 BTCs to BTCs, now a closed cryptocurrency exchange that’s said to favor concealment , Elliptic said. BTC operator Aleksandar Vinnik has been detained in Europe since 2017.
Earlier in the week , Elliptic co-founder Tom Robinson speculated that the coins might be transferred by closed Silk Road operator Ross Ulbricht or the Silk Road seller.
Ulbricht, who operated under the pseudonym Dread Pirate Roberts, used the darknet website from 2011 until his arrest in 2013 and is currently serving a life .
As currencies are dormant within the portfolio for years and aren’t available for trading, it seems unlikely that their seizures will play a task within the recent rise in Bitcoin prices. Conversely, if the govt sold them at auction as was common , the coins might be a part of the offer.

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Written by houcine


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