$28m worth of Bitcoins seized from Silk Road founder

$28m worth of Bitcoins seized from Silk Road founder

Around US$28 million worth of Bitcoins have been seized from the alleged owner of “Silk Road”, Ross William Ulbricht, after the site was shut down by United States law enforcement three weeks ago.

HumanIPO reported earlier this month the online marketplace, which was predominantly used for illegal drug trafficking, had been raided and shut down by the Federal Bureau of Investigation (FBI).

Reuters reports the FBI now claims to have taken control of his 144,336 Bitcoins, an anonymous digital currency which the site used for payments.

There were apparently more than 900,000 registered users on Silk Road who used Bitcoin to make payments.

Ulbricht, known in the online community as ‘Dead Pirate Roberts’, was arrested in San Francisco and charged with various counts of conspiracy on October 1.

He is expected to appear in the next few weeks in Manhattan federal court.

Posted in: Internet

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