Recently, the US courts have made a final confirmation on a significant ruling regarding the infamous Silk Road and the world of cryptocurrency.
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US Court rules to seize nearly 70,000 BTC
Mysterious individual assists government in cracking Silk Road cryptocurrency
Billions of dollars worth of cryptocurrency treasure
The notorious encrypted legacy of Silk Road on the dark web
The US court has determined the seizure of a staggering 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 took 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 the 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 previously agreed to pay the US government $3 billion in stolen bitcoins and relinquish partial rights to these bitcoins in 2022.
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