RT: US govt to auction $18mn worth of bitcoin seized from Silk Road

2012: What's the 'real' truth?

Published time: June 13, 2014 09:00

Reuters/Jim Urquhart

Reuters/Jim Urquhart

The US government is set to auction off $18 million worth of bitcoins seized from an online drugs market known as Silk Road. The Department of Justice is looking to make a considerable windfall from the sale with bitcoin increasing in value recently.

Bitcoin fever? Here’s another story: New bitcoin app provides financial incentive for future leakers

The now-defunct cyber-black market was closed down in October of last year, with authorities confiscating 30,000 bitcoin. The FBI also arrested the alleged kingpin of the online drugs bazaar, Ross Ulbricht, seizing roughly 144,000 bitcoin in the process.

Ulbricht, also known by his alias Dread Pirate Roberts, now faces charges of computer hacking, money-laundering and conspiracy to traffic narcotics. He denies all of the charges set against him, but insists the bitcoin are his and has demanded their return.

Nine months on the US Marshals…

View original post 305 more words


Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s