A U.S. appeals court has finalized the mandate for the forfeiture of bitcoin and other cryptocurrencies connected to the Silk Road dark web market. The judgment, which was first made in August, will now take effect following a filing in the U.S. District Court of Appeals for the Ninth Circuit. The lawsuit involves Silk Road founder Ross Ulbricht, two claimants, and the U.S. government. The government had already been in possession of the crypto, which was seized from the Silk Road by an individual called “Individual X” who hacked into the platform. In 2020, the U.S. Justice Department began seeking the official forfeiture of the crypto, which was valued at over $1 billion. Ross Ulbricht, who is currently serving a life sentence, operated the Silk Road from 2011 to 2013. He has agreed to use $3 billion in stolen bitcoin to repay his debt to the U.S. government and has relinquished his rights to 69,470 bitcoin.
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U.S. appeals court finalizes mandate for forfeiture of Silk Road bitcoin
