Ross Ulbricht Agrees To Use $3B In Stolen BTC To Pay Debt To US government

According to a court file originally discovered by Wired, nearly $3 billion in seized bitcoin will clear Ross Ulbricht of his $183 million obligations to the US government. Ulbricht is the creator of Silk Road, a now-defunct criminal marketplace that used bitcoin to facilitate the sale of drugs and other illegal goods. Nearly $3 billion worth of seized bitcoin will absolve Ross Ulbricht of his $183 million debt to the United States government, according to a court filing first discovered by Wired. The Block reported. https://t.co/igXtuKZkQw — Wu Blockchain (@WuBlockchain) April 23, 2022 Silk Road was hacked, and someone got off with 69,370 BTC before the marketplace was shut down. Ulbricht was sentenced to life in jail without the possibility of parole in 2015, after the marketplace was shut down, and was compelled to pay $183 million in reparations related to Silk Road’s total sales. In November 2020, the government seized the hacker’s 69,370 BTC. Ulbricht surrendered whatever rights he had to the bitcoin in this court petition, which was made in February 2021, and is now using it to settle his obligation to the government. According to the filing: “Ulbricht further relinquishes all right, title, and interest in the [69,370 BTC] and agrees that said property shall be forfeited to the United States and disposed of according to law by the United States. […] The parties agree that the net process realized from the sale of the Su...