Feds Missed ‘Millions’ When Seizing $1 Billion in Silk Road Bitcoin

In letter

  • A blockchain investigation firm claims the DOJ missed millions of dollars in crypto when it seized $ 1 billion in Bitcoin from a hacker.
  • These funds were linked to the Silk Road, a dark web marketplace that no longer exists.
  • The unclaimed funds are all obscure bitcoin forks.

Blockchain Analytics company Confirm with found millions of dollars worth Cryptocurrency missed by the US Department of Justice when it seized approximately $ 1 billion Bitcoin from someone believed to have hacked the defunct dark web marketplace The Silk Road.

In a blog post on Friday, Coinfirm said it found “millions of dollars in assets” belonging to “Individual X,” the pseudonym the DOJ gave the hacker when it announced the $ 1 billion seizure Bitcoin On the 5th of November.

Among the unclaimed funds are 693,701 “Bitcoin Diamonds” valued at approximately USD 310,000. 69,370 “Super Bitcoin” worth around 66,000 US dollars; and 69,370 “Bitcoin Private” CoinsValued at around $ 11,000. Coinfirm did not disclose the full amount of unclaimed funds and did not immediately respond to a request for additional details.

Coinfirm believes that “whoever has access to the main wallet’s private keys will still have access to those funds,” which means that the hacker still has access something for your effort.

Blockchain investigative firms traced the hack’s origin to a wallet address that had been circulating on forums for about a year and is believed to be related to the Silk Road, the online black market that the FBI shut down in 2013.

However, the DOJ has pulled less dark forks from Bitcoin, such as: Bitcoin SV and Bitcoin Cash.

The Silk Road was an online dark web marketplace accessible through the Tor browser and operated by Bitcoin. It sold drugs, fake driver’s licenses and credit card information, among other things. The FBI closed it in 2013.

Its founder, Ross Ulbricht, is serving a life sentence without parole in an Arizona prison. He occasionally publishes analysis of the Bitcoin market from his cell.