FBI Seizes Record 144,336 Bitcoins – Worth $28 Million




/ 8 years ago

Utah Software Engineer Mints Physical Bitcoins

RT reports that the FBI have just made their biggest seizure of bitcoins to date, a staggering 144,336 worth an estimated $28 million at current market value. The FBI claim to have seized the “secret stash” of bitcoins belonging to the Silk Road online marketplace founder and owner. The bitcoins apparently belonged to “Dread Pirate Roberts”, which was Ross Ulbricht’s alias on the Silk Road marketplace. In the 2 years of Silk Road’s operation $1.2 billion is estimated to have been traded in bitcoin of which Silk Road charged between 8 and 15% commission.

It is claimed that despite the FBI having seized hundreds of thousands of bitcoins from shutting down the Silk Road operation it still cannot use those bitcoins. This is because the FBI currently lacks the password to the encrypted wallet needed to access them. Ulbricht’s $80 million of personal wealth in bitcoins thus remain inaccessible to the FBI, protecting the value and integrity of the currency from intervention by authorities (for the time being at least).

Image courtesy of George Frey/Getty Images/AFP


Topics: , , , , ,

Support eTeknix.com

By supporting eTeknix, you help us grow and continue to bring you the latest newsreviews, and competitions. Follow us on FacebookTwitter and Instagram to keep up with the latest technology news, reviews and more. Share your favourite articles, chat with the team and more. Also check out eTeknix YouTube, where you'll find our latest video reviews, event coverage and features in 4K!

Looking for more exciting features on the latest technology? Check out our What We Know So Far section or our Fun Reads for some interesting original features.

eTeknix Facebook eTeknix Twitter eTeknix Instagram eTeknix Instagram

Check out our Latest Video

  • Be Social With eTeknix

    Facebook Twitter YouTube Instagram Reddit RSS Discord Patreon TikTok Twitch
  • Features


Send this to a friend
})