Silk Road Founder Ross Ulbricht to Forfeit $3 Billion in BTC

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The incarcerated founder of the now-defunct dark web marketplace, Silk Road, Ross Ulbricht, is going to forfeit his claim to [Bitcoin](https://www.coincarp.com/currencies/bitcoin/) worth about $3 billion in fulfillment of the $183 million debt owed to the US government. The Justice Department seized the funds in 2020 from a hacker who exploited Silk Road before it shut down and moved the BTC to a private wallet in 2013 – five years after Ulbricht was sentenced to life without parole. The 69,370 BTC seized at that time of the Silk Road’s closure are now worth close to $3 billion.

Source:https://beincrypto.com/silk-road-founder-ross-ulbricht-to-forfeit-3-billion-in-btc-extinguishes-debt-to-government/

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