The U.S. authorities will use the seized 69,370 BTC (~$2.75bn) to settle Ross Ulbricht’s $183m debt to the state.
In April 2013, a hacker stole 69,370 BTC during a breach of an illegal platform. In November 2020, U.S. law enforcement seized the bitcoins. Ulbricht waived any claim to them.
The date of the auction of the seized crypto assets has not been disclosed.
In 2015, a court found Ulbricht guilty of running the Silk Road darknet marketplace and other crimes, including drug trafficking and money-laundering conspiracies. He was sentenced to life imprisonment.
Earlier in 2021, Elon Musk called Ulbricht’s sentence an overreach.
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