US Court Approves Confiscation of 69,370 BTC from Silk Road
An American appeals court has officially taken possession of 69,370 BTC (valued at approximately $3 billion) that were linked to the defunct darknet marketplace Silk Road.
The court’s decision also covers an equivalent amount of four different Bitcoin forks: Bitcoin Cash, Bitcoin SV, and Bitcoin Gold.
This ruling was a confirmation of a previous decision made in August, and it involves the United States government as the plaintiff and Silk Road’s founder Ross Ulbricht as the defendant.
Ulbricht is currently serving two life sentences. The US Department of Justice took control of the assets in November 2020 when they were worth around $1 billion.
According to court documents, the funds were originally obtained by a hacker known as “Individual X” who breached Silk Road and stole the coins on May 6, 2012.
