A U.S. appeals court has finalized a mandate for the forfeiture of 69,370 bitcoins and other cryptocurrencies linked to the now-defunct Silk Road dark web marketplace. The court filing, which took effect on Wednesday, lists Silk Road founder Ross Ulbricht as a defendant, along with two claimants and the U.S. government as a plaintiff. The U.S. government had gained control of the crypto after it was handed over by an individual known as Individual X, who hacked into Silk Road and obtained control of its funds. In 2020, the U.S. Justice Department seized the crypto and initiated the official forfeiture proceedings. The value of the seized cryptocurrency has not been disclosed. The court’s decision marks the culmination of a legal battle surrounding the illicit marketplace that had facilitated illegal activities through the use of cryptocurrencies.
US Court Finalizes Forfeiture of Silk Road Crypto – 69,370 Bitcoin Seized
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