$BTC Chief U.S. District Judge Richard Seeborg authorized the sale of 69,370 bitcoins $BTC , which were seized in connection with case #SilkRoad - a well-known marketplace on the darknet used for illegal transactions.
🔹#SilkRoad this was an online marketplace in the darknet where illegal goods and services were sold, including drugs and weapons. It was shut down by U.S. law enforcement in 2013.
🔹During the investigation of the case #SilkRoad a large number of bitcoins $BTC were seized. These BTC became the subject of legal proceedings regarding their ownership.
🔹Battle Born Investments and 1st One Hundred Holdings claimed they had rights to these #BTC and filed a motion to block their sale.
🔹They tried to prove their ownership of these assets through a bankruptcy filing made after the closure of Silk Road.
🔹Judge Richard Seeborg denied these motions, allowing the U.S. Department of Justice to sell the seized BTC. This decision effectively puts an end to the proceedings but does not mean an immediate liquidation of the portfolio.
🔹This decision has significant implications for the cryptocurrency market, as the sale of such a large amount of BTC could impact their price.
🔹There is already information that the U.S. Department of Justice has been selling bitcoins for some time, and large cryptocurrency transactions from a wallet likely controlled by U.S. authorities were detected on the platform #CoinbasePrime .
🔹This event underscores the complexity of legal regulation of cryptocurrencies and the importance of tracking illegal transactions on the darknet.