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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.

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.

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.

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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