The currently closed darkweb marketplace of Silk Road founder Ross Ulbricht has completed a significant portion of his sentence in the United States.
However, according to newly emerged court documents, Ulbricht quietly signed an agreement with the authorities to cancel the $183 million compensation he had to pay.
Silk Road Founder Ulbricht Abandons Billions of Dollars in Bitcoin Claims to Pay $183M in Compensation
According to the documents, it is worth approximately 3 billion dollars. Bitcoin, Bitcoin Cash, Bitcoin Gold and Bitcoin to SV It will be confiscated by the US government.
According to the agreement, the proceeds from the sale of these assets will cover the material part of Ulbricht’s trial and be spent as the US government sees fit.
According to the documents that have emerged, Ulbricht will relinquish all rights, ownership and interest in the 69,370 BTC and agree to the transfer of all assets to the US and their disposal under US law.
US Seized Crypto Asset Valued Over $1 Billion In 2020
The BTC assets in question were actually seized by the efforts of the US Department of Justice. In 2020, the government seized the assets of 69,370 BTC-stealing hackers before being shut down from the Silk Road marketplace.
As it is known, Silk Road, an illegal marketplace, was used for the sale of drugs and other illegal goods.
Called the world’s first modern darkweb marketplace, the platform operated from 2011 until it was shut down by the FBI in 2014. Cryptocurrencies were used to make payments anonymously on the platform.
*Not investment advice.