The US Department of Justice seized more than 69,370 BTC, believed to have come from Silk Road.
The U.S. Department of Justice seized Bitcoin this week for the current equivalent of $ 1 billion. The seizure has yet to be confirmed by a court. According to the documents, the 69,370 BTC will be associated with Silk Road. It was a darknet marketplace that was closed by US investigative authorities in 2013.
It is one of the largest known sums of Bitcoin that is held at a single address. The transaction took place on Tuesday, which brought the amount into the custody of the authorities. This caused widespread media interest and it was speculated why such a record sum was suddenly moved. In fact, there has been no movement from the address concerned since 2015.
Like in the cinema: authorities present Mister X
For years people tried to crack the address because copies of the wallet were traded in the vastness of the Internet, which supposedly contain the private keys to the treasure. Initially, it was speculated that a hacker had succeeded in cracking the wallet. But even now, with the first facts on Tuesday’s transaction, speculation continues.
What really gets the rumor mill going is the fact that, according to the official documents, there is actually an unknown person who handed over the amount. The files simply speak of “Mister X”. The file does not reveal any further information about his identity.
However, the document confirms that the stranger allegedly hacked Silk Road and thus succeeded in attacking the marketplace. In the course of this, he stole the amount through a transaction to the notorious address. Allegedly this should also have been known to Ross Ulbricht.
A big auction is imminent
Now the question arises what the authorities are planning to do with the 69,370 BTC. The United States of America will be the new owner if the court agrees. But it is unlikely that the US will pack Bitcoin into the state treasury.
Other sums that were confiscated when Silk Road was closed have also gone under the hammer in the past. Investor Tim Draper made a name for himself in 2014 when he acquired 30,000 BTC of the auctioned Bitcoin.