US government wants to sell over $131 million worth of Bitcoins confiscated from Silk Road
The US District Court of Maryland has issued a notice regarding the disposal of a significant amount of Bitcoin from the former Silk Road marketplace, totaling over $131 million.
This lawsuit follows the court's order in USA v. Joseph Farace, where Bitcoin was seized from Ryan Farace and Shaun Bridges in 2021. Ryan France was sentenced to 54 months in prison earlier this year for laundering drug profits via the dark web. together with his father.
Bridges was a U.S. Secret Service special agent who was convicted in 2015 of laundering drug money using Bitcoin through the notorious darknet market Silk Road.
The seized digital assets include 2,874 Bitcoins worth about $129 million and 58 worth about $3 million. Both batches were already seized in Memphis and Arlington in 2021.
The US District Court has expressed its intention to sell the forfeited assets in accordance with the Attorney General's instructions. With the exception of the defendants in this case, individuals claiming an interest in the forfeited assets have been given a 60-day deadline, starting January 10, to file a supplemental petition, a legal document that must be filed to claim a claim To claim interest in seized property.
After any claims have been verified or the claim period has expired, the US officially becomes the owner of the seized Bitcoins and can legally sell them.
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