Justice Department Seizes $1 Billion of Bitcoin Tied to Silk Road Website – The Wall Street Journal

U.S. Department of Justice officials seized more than $1 billion of bitcoins and other digital currencies this week that had been associated with the Silk Road online drug bazaar, the largest seizure of cryptocurrency in the agency’s history.

The 69,000 seized bitcoins once belonged to Silk Road founder Ross Ulbricht, the Justice Department said in a statement Thursday. Mr. Ulbricht was convicted in 2015 of distributing narcotics and money laundering and sentenced to life in prison.

The…