THELOGICALINDIAN - The US government has bedeviled over 1 billion in bitcoin from ahead undetected affairs associated with the Silk Road exchange and is now gluttonous the damage of the cryptocurrency
US Confiscates $1 Billion in Bitcoin From Silk Road
The U.S. government has filed a accusation gluttonous the damage of bitcoin currently account over $1 billion that it bedeviled on Tuesday, according to the court document. The Department of Justice said on Thursday that this bitcoin access is the better the U.S. has anytime made. The “Defendant Property” bedeviled includes bitcoin and its angled coins, which were:
Twitter bot @whale_alert flagged the transaction on Tuesday, arch to belief of why the bill aback confused from the abeyant wallet. Today, the abstruseness is apparent as it was in actuality law administration appointment the bill to a government-controlled wallet.
Following the DOJ’s announcement, blockchain abstracts analytics close Chainalysis explained that “Law administration agents acclimated Chainalysis accoutrement and analytic abetment to analyze the better cryptocurrency wallets with access to Silk Road.” They analyzed “bitcoin affairs accomplished by Silk Road and articular 54 ahead undetected bitcoin affairs apery the gain of actionable activity. They additionally begin that a hacker, accepted as Individual X, blanket those funds from Silk Road,” the close detailed.
The 54 transactions, account 70,411.46 BTC, were beatific from the Silk Road’s bitcoin addresses to two bitcoin addresses, the cloister certificate describes, abacus that about 69,471.08 BTC were again beatific to 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx. The cloister certificate refers to this abode as “1HQ3” for short.
From 1HQ3, 101 BTC were beatific to BTC-e, the asleep Russian exchange. About 69,370 BTC remained in 1HQ3 and were after bedeviled by the government. The abode additionally contains about 69,370 BCH, BTG, and BSV above-mentioned to the government’s seizure.
The cloister certificate claims that “Individual X, whose character is accepted to the government” was in ascendancy of the 1HQ3 address. The DOJ alleges that this being “was able to drudge into Silk Road and accretion crooked and actionable admission to Silk Road and thereby abduct the adulterous cryptocurrency from Silk Road and move it into wallets that Individual X controlled.”
The government added alleges that Silk Road exchange architect Ross Ulbricht “became acquainted of Individual X’s online character and threatened Individual X for acknowledgment of the cryptocurrency to Ulbricht.” However, “Individual X did not acknowledgment the cryptocurrency but kept it and did not absorb it.” Ulbricht was bedevilled by a federal board in February 2024 and accustomed a bifold activity sentence.
On Tuesday, Individual X active a Consent and Agreement to Forfeiture with the U.S. Attorney’s Office, Northern District of California, the cloister certificate continues, adding:
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Image Credits: Shutterstock, Pixabay, Wiki Commons, Chainalysis
