2013-10-26 forbes.com - fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulb

[drawingthesun]

They got to his main stash of Bitcoins.

http://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/

And this is the address they have moved them too, now the largest single address on the network!

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

[niothor]

Friday night (evening) , let's see how the market reacts!

[bitcool]

So now US government owns the largest single address on the network, it becomes more interesting...

[uMMcQxCWELNzkt]

Has this hit other Bitcoin news networks yet?

[SgtSpike]

They got to his main stash of Bitcoins.

fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road

And this is the address they have moved them too, now the largest single address on the network!

https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH

Link doesn't work, it's got issues.

[SgtSpike]

Whoa, this is THE top story at forbes.com right now...

[TheKoziTwo]

http://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/

[casascius]

It looks like the address has been filled in multiple increments of 324 BTC.

324 = FBI? (telephone keypad)

[N12]

It looks like the address has been filled in multiple increments of 324 BTC.

324 = FBI? (telephone keypad)

Damn, I bet you're right.

[uMMcQxCWELNzkt]

It looks like the address has been filled in multiple increments of 324 BTC.

324 = FBI? (telephone keypad)

Damn, I bet you're right.

https://www.google.co.uk/search?q=324+FBI&oq=324+FBI&aqs=chrome..69i57j0l4.1598j0j7&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8
324 does seem to be used in their phone numbers so I guess it has significance to the FBI.

Yahoo Awnsers
"i dunno i had a friend tell me once that she actually used to call the fbi (324-fbi on the numbers on the phone) i dunno how true that is call it maybe it works idk and ask questions if you get anything. and im not tryin to be funny i really heard it idk good luck."

[notme]

http://www.forbes.com/sites/andygreenberg/2013/10/25/fbi-says-its-seized-20-million-in-bitcoins-from-ross-ulbricht-alleged-owner-of-silk-road/

Thanks, OP's link was disappointing .

[bitcool]

Just curious, if they are going to liquidate or auction off the stash, do they have to find someone with MSB license to do that? who would that be?

[notme]

Just curious, if they are going to liquidate or auction off the stash, do they have to find someone with MSB license to do that? who would that be?

Government agencies are exempted from money transmitter regulations.

[bigasic]

Common sense would make you think that the bitcoin community should react positive with this news. Like i said elsewhere, we are years away from them deciding the case, so those coins are not going to hit the market any time soon.... So, we know that those coins will be out of the loop for years, unless DPR strikes a deal, which I dont think is going to happen...

[notme]

Common sense would make you think that the bitcoin community should react positive with this news. Like i said elsewhere, we are years away from them deciding the case, so those coins are not going to hit the market any time soon.... So, we know that those coins will be out of the loop for years, unless DPR strikes a deal, which I dont think is going to happen...

And in the mean time bitcoin grows, and when the FBI finally does sell them, they suddenly have a trillion dollars to spend on privacy invasion.

[Arvicco]

Why is no one discussing the one REALLY important question: HOW were they able to break (supposedly) encrypted wallet and syphon money from it? If we assume it was a normal BitcoinQt wallet.dat, is there some kind of method to break it that is not universally known? As a community, we better find out everything about it, and do it fast...

[jabetizo]

Why is no one discussing the one REALLY important question: HOW were they able to break (supposedly) encrypted wallet and syphon money from it? If we assume it was a normal BitcoinQt wallet.dat, is there some kind of method to break it that is not universally known? As a community, we better find out everything about it, and do it fast...

With all the mistakes DPR allegedly made I wouldn't be surprised if he used a weak password. The coins at 1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a still haven't moved though.

[notme]

Why is no one discussing the one REALLY important question: HOW were they able to break (supposedly) encrypted wallet and syphon money from it? If we assume it was a normal BitcoinQt wallet.dat, is there some kind of method to break it that is not universally known? As a community, we better find out everything about it, and do it fast...

Likely this:

[zeroday]

We won't see these coins in a couple of years while trial is going on.

[uMMcQxCWELNzkt]

Common sense would make you think that the bitcoin community should react positive with this news. Like i said elsewhere, we are years away from them deciding the case, so those coins are not going to hit the market any time soon.... So, we know that those coins will be out of the loop for years, unless DPR strikes a deal, which I dont think is going to happen...

And in the mean time bitcoin grows, and when the FBI finally does sell them, they suddenly have a trillion dollars to spend on privacy invasion.

They don't need Bitcoin money for that. I personally think those Bitcoins will stay in government agency accounts and probably moved around. They could even use it for propaganda, they could send it to a particular group and spread it across the media to give Bitcoin a bad rep, without relinquishing control over their holdings. What we know about the state of internet privacy is the equivalent of the military announcing their "new" tech, something built years before and kept secret. They are always a good few years ahead in most technology.