U.S. Court of Appeals finally rules to confiscate 69,370 Bitcoins related to Darknet Silk Road

A U.S. appeals court on Wednesday finalized an authorization to formally seize 69,370 Bitcoins (worth approximately $3 billion) and other cryptocurrencies associated with the now-shuttered darknet Silk Road market. The decision was first handed down in August, but it will now take effect, according to a filing by the U.S. Court of Appeals for the Ninth Circuit. The documents filed on Wednesday name Dark Web Silk Road founder Ross Ulbricht as a defendant and two claimants and the U.S. government as plaintiffs. According to the original indictment, the U.S. government had taken control of the cryptocurrencies after the so-called “Individual X” hacked the darknet Silk Road and took control of its funds. (The Block)