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US government seizes $1billion bitcoin, gives reasons

The United States government has seized over $1 billion worth of bitcoin associated with a shady online marketplace, Silk Road.

The United States Justice Department explained that that was the largest seizure of cryptocurrency in the history of the agency.

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Bitcoin
Bitcoin

This was disclosed in a statement released by the US Attorney David Anderson of the Northern District of California on Thursday, November 5.

Anderson explained that Silk Road is a shady marketplace, where individuals use the online platform for buying illegal stuff that includes hard drugs, child pornography, malware, and use bitcoin in paying for such transactions.

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He added that the successful prosecution of Silk Road’s founder in 2015 left open a billion-dollar question. According to him, “Silk Road was the most notorious online criminal marketplace of its day.

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The successful prosecution of Silk Road’s founder in 2015 left open a billion-dollar question. Where did the money go?” The United States government will, however, prove in court the items that are subjected to forfeiture.

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