bitcoinvancouver

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FBI proves seizing bitcoins isn’t the same as owning them

FBI proves seizing bitcoins isn’t the same as owning them

While the FBI may have its hands on the founder of Silk Road’s bitcoin wallet, that doesn’t mean it has access to what’s inside. Ross Ulbricht, despite his own self-incriminations as the mastermind behind the online black marketplace, was able to do one thing right: secure his bitcoins.

reported 600,000 BTC belonging to Ulbricht is in the FBI’s hands. But they can’t access the bitcoin wallet because it is encrypted. This supposedly is separate from the 26,000 BTC that was left in an escrow account, which was being used to exchange money between the marketplace’s users and dealers.

 
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This entry was posted on October 30, 2013 by and tagged .

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bitcoinvancouver2013@gmail.com

bitcoinvancouver2013@gmail.com

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