The US completes the seizure of around $3 billion worth of Bitcoin and other tokens in the Silk Road case

The U.S. appeals court order comes more than three years after authorities seized the bitcoins and other cryptocurrencies from Person X, a suspected hacker.

An appeals court has completed the seizure of 69,000 bitcoins and other cryptocurrencies from a suspected hacker.

Photo from Shutterstock

Posted December 20, 2023 at 8:24 pm EST.

The US Court of Appeals for the Ninth Circuit on Wednesday completed the forfeiture of 69,370 Bitcoin, Bitcoin Gold, Bitcoin SV and Bitcoin Cash that were hacked from the notorious Silk Road marketplace, which the US shut down in 2013.

The mandate follows the seizure of cryptocurrencies from a suspected hacker individual

According to Coingecko, at the time the government valued the cryptocurrency at more than $1 billion and the price of BTC was around $13,742. Bitcoin was last traded at $42,440.

Silk Road was an anonymous marketplace on the Dark Web that operated from 2011 to 2013. In the 2015 trial of its creator Ross Ulbricht, the government said Silk Road used Bitcoin to facilitate criminal activities such as money laundering, drug dealing and murder. for rent. Ulbricht was convicted and served a life sentence.

According to Bloomberg, which first reported it, the seizure of bitcoins and other cryptocurrencies dates back to a hacker attack in 2012 or 2013.

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers