A court filing reveals Ulbricht is surrendering 69,000 Bitcoin along with Bitcoin Cash, Bitcoin SV and Bitcoin Gold to the federal government to satisfy the terms of a settlement.
The crypto was initially taken from an individual referred to as “Individual X” after he had allegedly pilfered the funds from Silk Road a couple years prior to that point.
Court affidavits show Ulbricht issued threats to the anonymous person in an attempt to have the money returned.
The terms of Ulbricht’s settlement state he will forfeit the Bitcoin and Bitcoin variations to the Department of Justice in exchange for the elimination of his debt.
As most cryptocurrency investors know, the value of Bitcoin has significantly increased since it was initially used by Ulbricht on his illegal black market platform.
The digital criminal, previously referred to as ‘Dread Pirate Roberts”, is now in the midst of serving two life sentences and 40 years without the potential for parole after launching Silk Road, an illegal black market website for criminal activity.
As a result, there is a high likelihood that Ulbricht will spend the rest of his life in jail.
It is interesting to note that Ulbricht’s mother conducted an interview with Wired, stating the Ulbricht family is pleased with the settlement and is holding out hope that her son will eventually be freed.
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