Australian Authorities to Sell $9.6 Million Worth of Bitcoins Seized from Silk Road Drug Dealer
Following the arrest, two years ago, of a Silk Road drug dealer living in Melbourne, Victoria authorities announced the planned sale of the $9.6 million worth chunk of the digital currency seized during the investigation. The Australian citizen, Richard Pollard, was sentenced on Friday to 11 years jail time after pleading guilty to commercial trafficking, accompanied by a non-parole period of seven years and four months. The 325 days he already served in custody will be subtracted from the total. The two houses belonging to the 32 years old man were raided in late 2012, in accordance with....
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Australian authorities last year seized about 24,500 Bitcoins from a Melbourne Silk Road drug dealer. Richard Pollard ran a web shop on the Silk Road website. He was accused of selling various illicit drugs between August and December, 2012. Last Friday, Richard Pollard was sentenced in the County Court of Melbourne to 11 years. Police were monitoring Pollard's every last move in late 2012; when they executed a search warrant on two properties they found a variety of drugs and computer equipment along with about $58,000 in cash. But some months later, authorities found three Bitcoin....
On November 3, 2020, the cryptocurrency community noticed that one of the largest addresses holding 69,369 bitcoins from the Silk Road were transferred. Following the onchain movement, the U.S. government revealed it had seized the coins from a person they dubbed “Individual X.” The following is an in-depth look at what we know about the Silk Road bitcoin address that was seized by U.S. law enforcement. This week on election day in the U.S., American law enforcement officials seized 69,369 bitcoins worth over $1 billion today. The bitcoin address is a well known address and....
Australian newspaper The Age this week reported that millions of dollars worth of bitcoin has been seized in a drug bust spearheaded by Victorian authorities. Said report indicates that the Director of Public Prosecutions "obtained a restraining order" on the bitcoins from the suspected drug traffickers' wallet some time in 2012-2013. This information came from the office's most recent annual report presented on Tuesday in state parliament. "Criminals have embraced the digital currency to transact in illicit goods and to launder money across borders, posing a challenge to law enforcement,"....
The U. S. government has announced a final auction to sell bitcoins seized during the arrest and subsequent prosecution of Silk Road creator Ross Ulbricht. The U. S. Marshals Service are auctioning off the last batch of bitcoins seized from Darknet drug market Silk Road. The Marshalls Service released a statement pointing to the sale of 44,341 bitcoins, a little over USD $10.6 million in today's exchange rates. "These bitcoins were held in wallet files that resided on certain computer hardware belonging to Ross William Ulbricht, that were seized on or about October 24, 2013," the notice....
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,....