On March 13, according to Forbes, earlier this month, the U.S. Attorney for the Western District of Texas ordered the seizure of just over 749 bitcoins, worth about $62.50 million. The order also involves hundreds of thousands of various currencies as well as gold coins and bars.
According to the Department of Justice, the assets were linked to illegal activities carried out by two men, one a Silk Road drug dealer and the other who helped him launder cryptocurrencies. The two men transferred bitcoins obtained through Silk Road transactions through multiple different accounts and exchanged bitcoins for cash through LocalBitcoins. Some of the funds ended up on the crypto exchange Gemini, which reported the deposits to law enforcement.
The seizure shows that while Silk Road founder Ross Ulbricht was granted amnesty a day after President Trump took office and is now a free man, those who sold drugs on dark web sites are still under investigation and the US government is still pursuing their illegal gains.
US authorities seized 749 bitcoins linked to the Silk Road drug trade this month
2025-03-13 14:38:54
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