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11/5/2020, 6:59 PM (Source: TeleTrader)
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DoJ seizes over $1B worth of Bitcoin tied to darkweb

The United States Justice Department confirmed on Thursday it had seized more than $1 billion worth of Bitcoin tied to the now-defunct Silk Road dark web market.

According to the statement, investigators used special software in order to identify "54 previously undetected bitcoin transactions executed by Silk Road, all of which appear to represent Bitcoin, which was the proceeds of unlawful activity, that was stolen from Silk Road in or about 2012 and 2013."

The complaint alleges that these funds were traced to a certain Bitcoin address connected to Individual X who hacked the funds from Silk Road. "Pursuant to that investigation of the hack, law enforcement seized several thousand Bitcoins on November 3, 2020. On November 4, 2020, the seized Bitcoin had a value of over $1 billion," Justice Department said.

Breaking the News / TF