U.S. DoJ moves BTC seized from Silk Road fraud. Details inside…
- The U.S. Department of Justice moved more than 9k BTC as of 12 July.
- More than 30k BTC still remains in the U.S. DOJ’s wallet and will be moved in four batches
After much speculation over the last few months, it seems like the Bitcoin [BTC] seized by the U.S. Department of Justice was finally on the move. On 12 July, Wu Blockchain tweeted that the Department of Justice transferred more than 9k BTC.
Breaking: The Silk Road BTC-related addresses which are suspected to be seized by the US Department of Justice, are transferring more than 9k BTC. https://t.co/Ws3f1eYWn8
The U.S. government previously sold 9,800 BTC on March 14 and said it plans to sell another 41,500 BTC…
— Wu Blockchain (@WuBlockchain) July 12, 2023
What happened here?
As per Wu Blockchain, the U.S. government previously sold 9k BTC in March. They also had plans to sell the remaining 41,500 BTC related to the Silk Road incident over the period of a year.
Sticking to the plan, the U.S. Department of Justice transferred more than 9k BTC. Additionally, two addresses were responsible for moving the 9k BTC in question. The rest of the 30k BTC remained where it was and hasn’t been moved.
A quick trip down memory lane
On 15 April, AMBCrypto reported that the accused of the Silk Road hack had finally been caught and sentenced to prison 11 years later. Recall that in 2012, the accused devised a plan to attack the dark web Silk Road.
The hacker stole Silk Road’s BTC in a total of 140 transactions and tricked Silk Road’s system to release 50,000 BTC. However, the accused pled guilty to all charges and is set to stay in prison for a period of a year and a day which started in April.