The crypto world witnessed a significant chapter close on December 20, 2023, as the United States Court of Appeals finalized the forfeiture of 69,370 Bitcoin. This decision, stemming from the notorious Silk Road case, marks one of the most substantial forfeitures in the annals of digital currency.

Final Chapter In Silk Road Saga

Silk Road, a now-defunct dark web marketplace, became synonymous with BTC in its early days. Since the shutdown of this notorious dark web marketplace, US authorities have been actively working to confiscate the crypto assets amassed during its operation

Their efforts have seen significant progress, leading to the recent development reported. On Wednesday, the Ninth Circuit US District Court of Appeals confirmed the transfer of the seized Bitcoin into federal possession.

This confirmation follows the US Department of Justice’s (DOJ) initial seizure of these assets in 2020, then valued at over $1 billion. This forfeiture includes a diverse mix of cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), and Bitcoin SV (BSV).

The court’s latest move finalizes the US government’s claim over these assets, concluding a significant chapter in the history of Bitcoin.

Silk Road’s Recent Bitcoin Transactions

July 2023 witnessed intriguing movements related to Silk Road’s funds, with over 9,000 BTC transferred from addresses linked to the marketplace. These transactions were believed to be part of the DOJ’s efforts in

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Author: Samuel Edyme

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