Man in drug website case wants his bitcoin back

By: Associated Press
By: Associated Press

Stay up-to-date with KAKE News:

NEW YORK (AP) — An Internet entrepreneur accused of being behind an online marketplace for illegal drugs has asked the government to return more than $30 million in bitcoin seized from his computers.

Ross Ulbricht, of San Francisco, was arrested in October following a crackdown on the black market website Silk Road.

Federal prosecutors in New York say Ulbricht went by the online handle the Dread Pirate Roberts and turned the underground site into a place where anonymous users could buy or sell contraband and illegal services.

In court filings, prosecutors say they seized 144,336 bitcoins from Ulbricht's computers.

Though subject to fluctuations in value, the virtual currency is exceedingly valuable, but lightly regulated.

Ulbricht says in a legal filing that the currency should be returned because it isn't subject to civil forfeiture rules.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 237019201 - kake.com/a?a=237019201