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US authorities seize $3.4 billion worth of Bitcoin

US authorities seize $3.4 billion worth of Bitcoin

The US authorities have announced the confiscation of $3.4 billion of stolen bitcoins. On Monday, a federal prosecutor in New York said that illegally obtained bitcoins were found in the home of a real estate businessman in November of last year. The 32-year-old stole bitcoin ten years ago from the “Silk Road” gate, which has been closed since 2013.

The “Silk Road” belongs to the so-called dark web, a hidden part of the Internet that is often used for illegal activities. The bitcoins contained in the real estate entrepreneur are the second largest amount of cryptocurrencies confiscated by the US authorities so far. Last February, authorities confiscated a record $3.6 billion in bitcoins stolen from a New York couple.

According to investigators, the 32-year-old pleaded guilty last Friday to illegally acquiring more than $50,000 worth of bitcoins in September 2012. He faces up to 20 years in prison.

The man allegedly defrauded the Silk Road using extremely fast transactions from around nine anonymous accounts. Then the value of the bitcoins he obtained in this way increased exponentially over the years. They were discovered during a raid on various devices at his home in Gainesville, Georgia. (apa/afp)