U. S. Feds Announce Forfeiture of $28 Million Worth of Bitcoin from Silk Road Operation
The United States Attorney for the Southern District of New York - Preet Bharara - today announced the forfeiture of about 29,655 bitcoins from the Silk Road server shut down late last year. The forfeiture comes as part of an audit of the servers that ran the infamous and illicit dark web drug-trading website. "With today's forfeiture of $28 million worth of Bitcoins from the Silk Road website, a global cyber business designed to broker criminal transactions, we continue our efforts to take the profit out of crime and signal to those who would turn to the dark web for illicit activity that....
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Undoubtedly many readers have seen this wallet before, we've linked to it a lot here in articles onCCN. Those are the "Silk Road Bitcoins" seized by a joint federal task force in the October take-down of the infamous online drug marketplace: Silk road. During the take-down that included crazy antics by undercover agents at a public library in a brazen heist to steal Silk Road operator Ross Ulbricht's laptop mid-session, the Feds were able to gain control of 29,655 Bitcoins from Silk Roads' servers. These Bitcoins belonged, in large part, to individual users of Silk Road from around the....
It's still mind-boggling to think that Silk Road, a supposedly anonymous black marketplace for illegal goods, could operate for such a long period of time without police interference. New evidence has come to light, though, suggesting the Feds were actually involved in the operation for a long time before the website was taken down. A recent document released by The Smoking Gun makes clear that Steven Lloyd Sadler - a top drug kingpin from Silk Road - was actively working with the Feds. The anonymity of Silk Road's web presence actually made it easy for cops to make undercover drug deals....
The 29,655 bitcoins seized by US law enforcement agents from defunct online black market Silk Road will be liquidated by the US government, a 16th January press release from the US Attorney's Office of the Southern District of New York confirmed. US District Judge J. Paul Oetken signed off on the forfeiture order on Thursday, clearing the government to sell the assets, which as of press time are worth more than $25m. While no timetable for the sale was issued, the development brings the government one step closer to unloading its Silk Road holdings, estimated to be 1.5% of all bitcoins,....
The U.S. government has seized over $1 billion in bitcoin from previously undetected transactions associated with the Silk Road marketplace and is now seeking the forfeiture of the cryptocurrency. US Confiscates $1 Billion in Bitcoin From Silk Road The U.S. government has filed a lawsuit seeking the forfeiture of bitcoin currently worth over $1 billion that it seized on Tuesday, according to the court document. The Department of Justice said on Thursday that this bitcoin seizure is the largest the U.S. has ever made. The “Defendant Property” seized includes bitcoin and its....
Global assurance, tax and advisory services firm, Ernst & Young, will facilitate a first-of-its-kind Bitcoin sale process in Australia on June 20. Going by its current rate (1 BTC = $526), the 24,518 Bitcoins up for grabs, split into 11 lots of 2,000 coins and one lot of approximately 2,518, are worth about $13 million. The Bitcoins are proceeds of crime as part of the civil forfeiture connected to the conviction of Ross Ulbricht for running the Silk Road drug marketplace last year. Silk Road treasure brought to the hammer. 144,000 Bitcoins were seized from Ulbricht after he was found....