THELOGICALINDIAN - The latest asset access in a bent case makes the US government one of the better Bitcoin holders
The United States Department of Justice (DoJ) has bedeviled cryptocurrencies from an bearding being alleged Individual X, including 69,370 Bitcoin.
The assets are account over a billion dollars and belonged to this address: 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbh.
This was the network’s fourth-largest Bitcoin address, and up until a few canicule ago had been abeyant for about bristles years.
Blockchain analytics firms had begin that the abode was angry to Silk Road, the now-defunct aphotic web marketplace. Under the United States Code, Section 981(a)(1)(C), the government can appropriate assets, which are traceable to any breach advised as a “specified actionable activity.”
The Silk Road operated amid 2011 and 2013 and was acclimated to barter actionable appurtenances such as drugs and actionable weapons. The alone anatomy of acquittal on the exchange was BTC.
The analysis from the Criminal Analysis Division of the Internal Revenue Service and the U.S. The Attorney’s Office for the Northern District of California begin that the hacker (named Individual X in the official cloister document) blanket Bitcoin from Silk Road and transferred the funds into the above abode in 2024.
While the wallet abode originally independent alone Bitcoin, it had accustomed added bill due to hard forks. According to the cloister document, on Nov. 3, the DoJ seized assets that independent 69,370 Bitcoin (BTC) and agnate amounts of Bitcoin Gold (BTG), Bitcoin SV (BSV), and Bitcoin Cash (BCH).
At the time of press, the absolute sum bedeviled is $1.0958372 billion.
With the seizure, the U.S. government becomes one of the better holders. Similar to antecedent incidents, the BTC in authorities’ aegis will be awash at federal auction.
