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US Court Finalizes Forfeiture of 69,370 Bitcoin (BTC) From Silk Road
U.Today - The United States Court of Appeals has of 69,370 Bitcoin (BTC) linked to the now-defunct dark world marketplace, Silk Road. While the judgment for this massive Bitcoin forfeiture was passed in August of this year, it officially comes into effect as of Dec. 20, 2023.
This fund is arguably one of the largest forfeitures of all time, and it involves a combination of Bitcoin, Bitcoin Cash (BCH), Bitcoin Gold (BTG) and Bitcoin SV (BSV), respectively. The court filing listed the U.S. government as the Plaintiff alongside two Claimants, including Ilija Matukso and Battle Born Investment Company. Ross Ulbricht, the Silk Road marketplace founder, was named the Respondent.
The United States Department of Justice (DOJ) initially seized the funds in 2020, valued at more than $1 billion at the time. Though it has been exploring ways to take complete ownership of the asset since that time, considerable movements have been over the past couple of years.
At the time of writing, the 69,370 BTC is valued at $3,027,033,482.20 based on the current price of Bitcoin, pegged at $43,636.06.
Read More: https://www.investing.com/news/cryptocurrency-news/us-court-finalizes-forfeiture-of-69370-bitcoin-btc-from-silk-road-3262111
U.Today - The United States Court of Appeals has of 69,370 Bitcoin (BTC) linked to the now-defunct dark world marketplace, Silk Road. While the judgment for this massive Bitcoin forfeiture was passed in August of this year, it officially comes into effect as of Dec. 20, 2023.
This fund is arguably one of the largest forfeitures of all time, and it involves a combination of Bitcoin, Bitcoin Cash (BCH), Bitcoin Gold (BTG) and Bitcoin SV (BSV), respectively. The court filing listed the U.S. government as the Plaintiff alongside two Claimants, including Ilija Matukso and Battle Born Investment Company. Ross Ulbricht, the Silk Road marketplace founder, was named the Respondent.
The United States Department of Justice (DOJ) initially seized the funds in 2020, valued at more than $1 billion at the time. Though it has been exploring ways to take complete ownership of the asset since that time, considerable movements have been over the past couple of years.
At the time of writing, the 69,370 BTC is valued at $3,027,033,482.20 based on the current price of Bitcoin, pegged at $43,636.06.
Read More: https://www.investing.com/news/cryptocurrency-news/us-court-finalizes-forfeiture-of-69370-bitcoin-btc-from-silk-road-3262111
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