The US government has thought more than $1bn costs of Bitcoins connected to the cover-up darknet marketplace Silk Road and is critical for the official forfeit of the funds.

The case is the main cryptocurrency seizure in history and clarifies why the bitcoins changed hands this week. Predictors had observed the transfer on the public blockchain and gambled that it was either due to an unidentified Silk Road co-conspirator trying to cash out, or because the funds had been taken by hackers.

The Department of Justice speaks it tracked down the actual holder of the funds, a person it calls Individual X, thorough their determinations to liquidate a small serving of the money in 2015. On just near 23 April 2015, [the Bitcoin account] focused 101 Bitcoin (around $23,700) on BTC-e, a company that on the state that Bitcoin-related services and performed as an unlicensed cryptocurrency exchange, the criminal criticism says.

Individual X, whose exclusivity is documented to the government, the grievance alleges. In its place, Individual X was capable to hack into Silk Road and surge unauthorized and illegal rights to use Silk Road and thereby bargain the illegal cryptocurrency from Silk Road and move it into wallets that Individual X measured.

The grievance formally titled in part “United States of America vs in the region of 69,370 Bitcoin”, requires the DoJ to show in court that the seized cryptocurrency is a theme to forfeiture since it is the ensues of a criminal act.

Chainalysis, a blockchain examination firm that assisted the government in its investigation, said: Former this year, IRS-CI agents used Chainalysis to analyze Bitcoin transactions performed by Silk Road and identified 54 before unnoticed bitcoin transactions on behalf of the proceeds of unlawful activity. They also create that a hacker, identified as Individual X, stole those funds from Silk Road.

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