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DOJ Seizes 1 Billion Dollar Worth of Bitcoin Linked to Silk Road

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On Tuesday, it is reported that US Justice Department seized $1 Billion dollar worth of bitcoin. This is related to the 4th largest wallet of bitcoin which is moved recently after 2015.

When the coins were moved for the first time after 5 years, blockchain analysis firm Elliptic flagged the transaction linking to Silk Road operators. Then US authorities immediately confiscated this almost 69k bitcoins amounting $1 billion dollar. It is reported that DOJ seized this bitcoin from “unknown hacker” but it might be Ross Ulbricht himself, the founder of Silk Road in dark web.

Following this largest seize of bitcoin and US election ending within this week, bitcoin price jumped from 13k to 15k within 48 hours.

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Krishna
Krishna is an initial CDT member of RECAP blockchain network; a crypto enthusiast who has worked on multiple startups since 2013.
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