ICYMI: Silk Road founder Ross Ulbricht agrees to use $3 billion in stolen BTC to pay debt to US government
Silk Road founder Ross Ulbricht agrees to use $3 billion in stolen BTC to pay debt to US governmentNearly $3 billion worth of seized bitcoin will absolve Ross Ulbricht of his $183 million debt to the United States government, according to aUlbricht is the founder of the now-defunct illicit marketplace Silk Road, which used bitcoin to facilitate the sale of drugs and other illegal items.
Before the marketplace shut down, Silk Road experienced a hack in which someone made off with 69,370 BTC. In 2015, after the marketplace shut down, Ulbricht was sentenced to life in prison without parole and was ordered to pay $183 million in restitution related to Silk Road’s total sales.that hacker’s 69,370 BTC in November 2020. In this court filing, filed in February 2021, Ulbricht waived any rights he had to that bitcoin and is using it to pay his debt to the government.
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