The US government has successfully sold more than 6,000 bitcoins that were seized from the Silk Road marketplace, which was used to sell illegal goods and services. The government received $216 million for the sale.
The seized bitcoins have been in the possession of the US Federal Bureau of Investigation (FBI) since 2013, when the Silk Road was shut down for violating laws prohibiting the sale of illegal goods and services. At the time, bitcoins were worth about $48 million.
The Silk Road was the largest dark market in the world that operated on the Tor network. The market was based on the bitcoin cryptocurrency and was popular among users looking for anonymity and privacy in transactions. A variety of illegal goods and services could be found on the Silk Road, including drugs, weapons, fake documents, stolen personal data, and much more.
Since the bitcoins were seized, their value has increased significantly, and the sale is one of the largest such sales made by the US government in recent years.
The sale of bitcoins was made possible after permission was obtained from the US authorities. The US government has long been selling seized cryptocurrency assets recovered from criminal activities at auctions and through brokers.
It is worth noting that the value of bitcoin has recently reached a new all-time high after Tesla announced the purchase of this cryptocurrency for $1.5 billion. However, the sale of seized bitcoins by the US government shows that cryptocurrencies are still associated with crime and lack of control by the authorities.
Thus, the US government has sold more than 6,000 bitcoins seized from the Silk Road marketplace, which was used to sell illegal goods and services. The sale brought the government $216 million. The seized bitcoins had been in the possession of the US Federal Bureau of Investigation since 2013.