BCH, Bitcoin Diamond, Bitcoin Private, BSV, cryptographic tracing, Department of Justice (DoJ), Individual X, Law Enforcement, Silk Road, super bitcoin

Analytics firm Coinfirm says the US Department of Justice (DOJ)’s seizure of digital assets associated with the now-defunct Silk Road left behind tokens worth millions of dollars. According to Coinfirm, there are still valuable balances held on forked addresses originating from that wallet.

On November 5, the DOJ announced that a hacker known as Individual X had cooperated with law enforcement and agreed to relinquish control of over $1 billion worth of bitcoins. At the time of the seizure of the 69,370 BTC, news.Bitcoin.com reported the DOJ confirming that 1HQ3-the address that was controlled by Individual X also contained approximately 69,370 BCH, BTG, and BSV.

However, in its update following “a self-funded investigationâ€, the analytics firm says the US “government seemingly overlooked and left it in the hands of whoever has access to the private keys of the main wallet.†While Coinfirm is claiming that funds worth millions of dollars are still outstanding, the firm has so far only released information on tokens whose total value does not exceed $1 million.

According to the investigation, the following digital assets were left behind by the DOJ:

  • 693701 Bitcoin Diamond (“BCDâ€), which is presently worth approximately 310,000 USD.
  • 69370 Super Bitcoin (“SBTCâ€), which is presently worth approximately 66,000 USD.
  • 69370.11453606 Bitcoin Private (“BTCPâ€), which is presently worth approximately 11,000 USD.

After cooperating with US authorities “Individual X walked away from the incident without facing any criminal charges†according to Coinfirm. It remains to be seen if this latest revelation (if confirmed true) is going to result in changes to Individual X’s deal.

Meanwhile, Coinfirm claims that its cryptographic tracing efforts have identified dozens of cases in which law enforcement authorities may have unknowingly left substantial funds accessible to suspects instead of properly accounting for and seizing those assets.

Do you agree with Coinfirm that the DOJ left tokens worth millions of dollars after the Silk Road seizure? Tell us what you think in the comments section below.

RELATED NEWS

Indictment Order Issued Against Leaders of the Geek Group for Their Role Using BTC in an Illegal Money Transmission Business

A U.S. District Court has indicted three individuals behind the now-defunct Geek Group for their role in running an illegal money transmission business that used bitcoin to move funds across states. According to the indictment documents, it was Christopher Allan Boden then president of the Geek Group, who “sold bitcoin to numerous customers, in exchange […]

Xem chi tiết: Indictment Order Issued Against Leaders of the Geek Group for Their Role Using BTC in an Illegal Money Transmission Business

An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash

On March 2, 2021, the average fee on the Ethereum network costs around 0.0083 ETH in gas or around $12.89 per transaction. Transaction fees of this caliber have dampened Ethereum-based decentralized finance (defi) applications and Web3 platforms. On February 23, however, crypto proponents were introduced to an alternative solution called Moeing chain. The Moeing chain […]

Xem chi tiết: An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash

A Step-by-Step Guide to Creating and Selling Non-Fungible Tokens Built With Bitcoin Cash

In the summer of 2019, our newsdesk published a step-by-step guide on how to create a non-fungible token (NFT) asset by leveraging the Simple Ledger Protocol built on top of the Bitcoin Cash blockchain. The following guide is an updated walkthrough on the process of creating an NFT collectible using the blockchain network with artwork […]

Xem chi tiết: A Step-by-Step Guide to Creating and Selling Non-Fungible Tokens Built With Bitcoin Cash

An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash

On March 2, 2021, the average fee on the Ethereum network costs around 0.0083 ETH in gas or around $12.89 per transaction. Transaction fees of this caliber have dampened Ethereum-based decentralized finance (defi) applications and Web3 platforms. On February 23, however, crypto proponents were introduced to an alternative solution called Moeing chain. The Moeing chain […]

Xem chi tiết: An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash

Stablecoin Issuer Tether Says It Is a Victim of a 500 BTC Ransom Demand Infoleak Threat

Just days after the conclusion of its long-running feud with the Office of the Attorney General of New York, Tether says it is now a victim of an extortion attempt. According to the stablecoin issuer, the blackmailers are threatening to release documents they claim “will harm the bitcoin ecosystem†if their demand for the payment […]

Xem chi tiết: Stablecoin Issuer Tether Says It Is a Victim of a 500 BTC Ransom Demand Infoleak Threat

Spanish Court Orders the Investigation of Possible ‘Computer Fraud’ on Bittrex Exchange After a User Loses 1.3 BTC

A Spanish Court has issued an order compelling a division within the country’s police to investigate the possible existence of “computer fraud†on the Bittrex cryptocurrency platform. The order was issued following the filing of a complaint by a Tenerife based Bittrex user who claims to have lost 1.3 BTC (or $58,000) that was stored […]

Xem chi tiết: Spanish Court Orders the Investigation of Possible ‘Computer Fraud’ on Bittrex Exchange After a User Loses 1.3 BTC

Online Retail Giant Rakuten Allows People to Load Payment App With Cryptocurrencies

The firm Rakuten Inc., often referred to as “the Amazon of Japan,†announced customers can now load up Rakuten Pay accounts with cryptocurrencies like bitcoin, ethereum, and bitcoin cash. In order to commemorate the latest crypto service, Rakuten is also offering bonus points to people leveraging “Rakuten Cash†via crypto assets. Crypto Can Pay for […]

Xem chi tiết: Online Retail Giant Rakuten Allows People to Load Payment App With Cryptocurrencies

Craig Wright Plans to Take Legal Action Against BTC Developers, Hopes to Recover Over $3B in ‘Stolen Bitcoin’

Craig Wright, the individual that claims to be Satoshi Nakamoto, seems to be planning to initiate legal action against a number of open-source blockchain developers. Wright’s legal team, Ontier LLP, has allegedly sent letters to programmers who work on blockchains like Bitcoin, Bitcoin Cash, and Bitcoinsv as well. The self-styled Bitcoin inventor’s legal action letters […]

Xem chi tiết: Craig Wright Plans to Take Legal Action Against BTC Developers, Hopes to Recover Over $3B in ‘Stolen Bitcoin’

BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

BTC Transaction Stuck? Bitcoin Cash-Powered Accelerators Can Speed Up Transfers

Red Envelopes and BCH: Prominent Mining Execs Jiang Zhuoer and Jihan Wu Bolster Bitcoin Cash

Kim Dotcom Publishes a Website That Highlights the Benefits of Bitcoin Cash

Colombia’s Financial Superintendent Approves Nine Crypto Platforms to Work With National Banks

Europol Arrests 10 Members of a Sim Swapping Criminal Gang That Stole Cryptocurrencies Worth $100 Million

Seized Silk Road Bitcoin Worth $3 Billion Likely Linked to Disgraced US Secret Service Agent

Serbian National Arrested and Extradited to the US for His Role in a $70M Crypto Mining Case

Other Articles