US Seizes Record $28M In Bitcoins From Silk Road Server

Law360, Los Angeles (January 16, 2014, 8:28 PM EST) -- The government has seized about $28 million in bitcoins from the servers of the black-market website Silk Road, whose operator has been accused of hacking and drug trafficking, marking the largest-ever forfeiture in that currency, prosecutors said Thursday.

The government announced its seizure a day after a New York federal judge ruled that Silk Road and Ross William Ulbricht, its alleged runner, would have to forfeit the site’s assets. The court determined that the bitcoins were the proceeds of crimes.

The government said it had picked...
To view the full article, register now.




Case Information

Case Title

United States of America v. Ulbricht et al

Case Number



New York Southern

Nature of Suit

Forfeit/Penalty: Other


Katherine B. Forrest

Date Filed

September 30, 2013

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.