BTC 69,370 related to the Silk Road confiscated by U.S. government
On November 3, the US Department of Justice confiscated 69,370 BTC. These coins come from the Silk Road Darknet market.
Law enforcement officers also confiscated an equivalent number in Bitcoin Cash, Bitcoin SV and Bitcoin Gold. The Office stressed that this is the largest amount in crypt currency ever confiscated by the U.S. authorities.
According to a court document, the owner of the address, which runs under the pseudonym Invididual X, hacked into Silk Road and stole these coins. Earlier we wrote that they were removed from the Darknet market on May 6, 2012. A year after their withdrawal, they were moved to the address at which they were kept until confiscation.
On November 3, Invididual X signed a consent to transfer the coins to law enforcement. On November 4, the price of the coins exceeded $1 billion against the background of the Bitcoin price growth.
The document says that the founder of Silk Road Ross Ulbricht, who is serving a life sentence, threatened Invididual X in an attempt to return the funds, but did not succeed.
Chainalysis assisted the authorities in tracking 54 Silk Road transactions.
It is believed that Silk Road earned 614,000 BTCs on commissions, although only 174,000 BTCs were seized from Ross Ulbricht during his arrest.
In the past, the U.S. authorities had already sold Silk Road bitcoins at auction. In July 2014, venture capitalist Tim Draper bought 30,000 BTC s confiscated from the darknet market for $632.
Recall that the file wallet.dat to Invididual X address was sold on hacker forums for several years. When 69,370BTC was transferred to another address, many people came to the conclusion that someone managed to find a private key.