The US Appeals Court has finally approved the confiscation of 69,370 BTC (approximately $3 billion) belonging to the closed darknet marketplace Silk Road. The decision also includes an equivalent amount of Bitcoin Cash, Bitcoin SV, and Bitcoin Gold.
This decision confirms the initial ruling made in August. Among the plaintiffs listed is the United States government, and the defendant is the founder of Silk Road, Ross Ulbricht, who is serving two life sentences.
The US Department of Justice seized these assets in November 2020 when their value was around $1 billion. According to court documents, the authorities gained control of these funds on behalf of an individual known by the pseudonym Individual X, who hacked Silk Road and stole the assets, withdrawing them from the darknet market on May 6, 2012.
It is worth noting that, according to analysts, the US government is one of the largest holders of Bitcoin, controlling approximately 194,188 BTC as of October.
