U.S. Dept of Justice seizes $1 billion in Bitcoin

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A billion-dollar mystery has been solved. Cryptocurrency watchers were stunned when they recently saw a billion dollars of Bitcoin being moved from a very old account that has been inactive for years.

The mystery was solved as the U.S. Dept of Justice unsealed court filings related to the Ross Ulbricht 2015 Silk Road case. Ulbricht, ran the infamous dark-web site Silk Road, was convicted and his bitcoin assets seized. But before they all could be grabbed, a hacker stole 70k bitcoins from Ulbrichts accounts. As they say, there is little honor among thieves. Then it was worth a few hundred thousand dollars, but now it has appreciated to well over a billion dollars.

This is momentous! Such a seizure puts most others to shame and it will likely drive some changes in law enforcement. In today’s video, I discuss how this case will change enforcement and criminal practices moving forward.

Posted Using LeoFinance Beta



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