US authorities seize $ 1 billion in Bitcoin

 


The Silk Road has been a massive black market where people could anonymously carry out illegal transactions like selling drugs or weapons.

Even after the arrest of Silk Road founder Ross Ulbricht, authorities found it difficult to identify and confiscate the bitcoin commissions that the black market had benefited from.

Earlier this week, authorities tracked down and confiscated more than 69,000 bitcoins, and it may be the largest seizure ever made by the US Department of Justice.

With a bitcoin worth $ 15,000, this seizure is worth $ 1 billion.

The Silk Road has been a massive black market where people could anonymously carry out illegal transactions like selling drugs or weapons.

A few days ago it was reported about a transaction in $ 1 billion bitcoin from the account related to the Silk Road.

Authorities shut down the platform in 2013 and during the processor they seized 175,000 bitcoins, far less than the 600,000 bitcoins thought to have been generated by the website.