#DidYouKnow ๐ก
In November 2020, U.S. authorities seized over 69,000 $BTC (valued at over $1 billion at the time) connected to the infamous darknet marketplace, Silk Road.
Background:
Silk Road: An online black market active between 2011 and 2013, primarily used for illegal drug transactions.
Ross Ulbricht: The founder of Silk Road, operating under the pseudonym "Dread Pirate Roberts." He was arrested in 2013 and later sentenced to life imprisonment without parole.
Seizure Details:
Individual X: An unnamed hacker referred to as "Individual X" exploited vulnerabilities in Silk Road to unlawfully obtain the 69,370 BTC.
Government Action: After years of dormancy, these bitcoins were seized by the U.S. government in 2020.
Recent Developments:
Asset Liquidation: In January 2025, courts authorized the U.S. government to liquidate the seized bitcoins, now valued at approximately $6.5 billion.
IRS Agent's Involvement: The seizure was led by IRS agent Tigran Gambaryan, who played a pivotal role in tracing and recovering the stolen funds.
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