US Court Finalizes Forfeiture of 69,370 Bitcoin from Silk Road

21 December 2023

By Hongji Feng | @hongji-feng

A U.S. appeals court has completed a legal process finalizing the seizure of 69,370 Bitcoin from the Silk Road, the now defunct dark web marketplace.

According to a court filing, the U.S. District Court of Appeals for the Ninth Circuit confirmed the transfer of the Bitcoin to federal control. This enforcement follows an earlier ruling which established the government’s right to the digital assets tied to Silk Road’s illegal activities.

The seized Bitcoin assets also included Bitcoin Gold (BTG), Bitcoin SV (BSV), and Bitcoin Cash (BCH), in addition to Bitcoins.

The Seizure of Silk Road’s Illegal Assets

The initial judgment regarding the Silk Road’s Bitcoin was issued in August. It stemmed from the U.S. Justice Department‘s 2020 seizure and subsequent motion for official forfeiture of the cryptocurrency. At that time, the value of the seized Bitcoin exceeded $1 billion.

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