Silk Road founder Ross Ulbricht agrees to use $3B in stolen BTC to pay debt to US government

04/23 03:27

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. Ulbricht 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.

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