The Feds were able to identify 54 undetected cryptocurrency transactions linked to the seized Silk Road marketplace leading them to seize Bitcoin.
The U.S. Department of Justice (DoJ) announced the seizure of $1 billion in bitcoin and other cryptocurrencies. The DoJ claims that the funds were linked to the now dysfunctional dark web marketplace Silk Road.
It is worth noting that Silk Road was taken down, and its founder Ross Ulbricht was arrested around seven years back in October 2013. It could be termed as the largest seizure of bitcoins in the history of DoJ – Ulbricht is serving a life sentence in US prison.
Reportedly, the seizure occurred on Tuesday after observers noted that a digital wallet at the address “1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx” transferred 69,369 bitcoins (roughly $1.04 billion) in a rather mysterious manner.
The DoJ revealed on Thursday that it had filed a civil complaint to confiscate the Bitcoin. Apart from Bitcoin, the other cryptocurrencies found in the transaction included Bitcoin S.V., Bitcoin Cash, and Bitcoin Gold.
In its official statement, the Justice Department stated that it sought a civil action to permanently forfeit cryptocurrency in California’s Northern District. The U.S. attorney David L. Anderson stated th ..
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