DOJ seizes $1B in Bitcoin from Silk Road News
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DOJ seizes $1B in Bitcoin from Silk Road

The US Department of Justice (DOJ) filed suit in San Francisco to seize over $1 billion in Bitcoin from the Silk Road.

The Silk Road was the largest online criminal marketplace where people went to buy controlled substances. In the process of the investigation, DOJ agents made more than 100 purchases. Silk Road creator Ross Ulbrich was indicted in 2015 in the Northern District of California where he lived and ran the network. Over the course of the following years, the DOJ tracked bitcoin related to Individual X and the Silk Road. On November 3, Individual X consented to the forfeiture of the Bitcoin to the US government.

According to the DOJ press release the government must now prove, by a preponderance of the evidence, that the property is subject to forfeiture.

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