The U.S. DoJ seizes $1 billion in BTC, BCH, BSV, BTG tied to “Silk Road”, the largest crypto seizure in history

The United States Department of Justice asked to seize $1 billion from an unnamed hacker, which sat dormant for years in a wallet linked to Silk Road, the online black market that was shut down in 2013.

Silk Road founder Ross Ulbricht

The DoJ is asking the court of the Northern District of California to lock down on “approximately 69,370.22491543 Bitcoin (BTC), 69,370.10730857 Bitcoin Gold (BTG), 69,370.10710518 Bitcoin SV (BSV), and 69,370.12818037
Bitcoin Cash (BCH) obtained from 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbh on or about November 3, 2020.

The value of those funds today makes this the largest crypto seizure in history.

“From 2011 until October 2013, when it was seized by law enforcement, Silk Road was the most sophisticated and extensive criminal marketplace on the Internet, serving as a sprawling black market bazaar where unlawful goods and services, including illegal drugs of virtually all varieties, were bought and sold regularly by the site’s users.

While in operation, Silk Road was used by thousands of drug dealers and other unlawful vendors to distribute hundreds of kilograms of illegal drugs and other unlawful goods and services to well over 100,000 buyers, and to launder hundreds of millions of dollars derived from these unlawful transactions.” DoJ said.

The website’s accused creator, Ross Ulbricht, was convicted in 2015 of seven counts of enabling illegal drug sales via bitcoin. He was sentenced to life in prison, and lost an attempted appeal in 2017.

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The post The U.S. DoJ seizes $1 billion in BTC, BCH, BSV, BTG tied to “Silk Road”, the largest crypto seizure in history appeared first on AZCoin News.

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