A U.S. court approves the sale of $6.5 billion in seized Silk Road Bitcoin, closing a major legal battle and marking the largest crypto seizure yet.

A U.S. federal court has approved the sale of 69,370 Bitcoin seized from the Silk Road marketplace, marking the final step in a four-year legal battle. Chief U.S. District Judge Richard Seeborg denied a motion to block the forfeiture, clearing the Department of Justice (DOJ) to liquidate the $6.5 billion worth of Bitcoin. This is the largest crypto seizure in U.S. history, signaling a major closure in the case linked to the dark web platform shut down in 2013.

Despite the ruling, the liquidation process will take time, as federal asset forfeiture involves several administrative steps and appeal windows. Portions of the Bitcoin stash have already been sold. On December 3, 2024, the DOJ moved nearly $2 billion in Silk Road Bitcoin to Coinbase, where the U.S. Marshals Service manages custody through Coinbase Prime. #bitcoin #dumps