UK court orders confiscation of more than £490,000 in Bitcoin from former Silk Road administrator

A court in the United Kingdom ordered the confiscation from the former administrator of the darknet marketplace Silk Road of £493,550 (about $673,000 at the time of writing) in Bitcoin. Computer Weekly reports.

Thomas White, also known by the alias Cthulhu, led Silk Road after the arrest of the marketplace’s founder, Ross Ulbricht, and later Silk Road 2.0.

In 2019, White pleaded guilty to drug trafficking, money laundering, and creating images depicting child abuse. He was sentenced to five years and four months in prison.

The United Kingdom’s National Crime Agency, which led the investigation, was unable to determine the exact amount White earned from his illicit activities. However, it is known that goods sold via Silk Road 2.0 totalled about $96 million, and, according to law enforcement, White took a commission of between 1% and 5% on each sale.

In 2020, the U.S. Department of Justice confiscated 69,370 BTC linked to Silk Road.

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