U.S. Appeals Court Finalizes Forfeiture of Silk Road Bitcoin

A U.S. appeals court has issued a mandate formalizing the forfeiture of 69,370 bitcoins and other cryptocurrencies linked to the defunct Silk Road dark web market. The judgment, originally made in August, became effective following the finalization of the mandate. Silk Road founder Ross Ulbricht, two claimants, and the U.S. government are listed as parties in the filing. The government had previously taken control of the crypto, handed over by “Individual X,” who hacked into Silk Road and gained control of its funds. The seized crypto, valued at over $1 billion in 2020, has now been officially forfeited. (Source: Cointelegraph)