Feds in NY: $28M bitcoins forfeiture a record - FOX 10 News | fox10phoenix.com

Feds in NY: $28M bitcoins forfeiture a record

Posted: Updated:

NEW YORK (AP) - Federal prosecutors in New York say $28 million in bitcoins was seized in a record forfeiture from the server of the black market website Silk Road.

They announced the forfeiture Thursday, a day after a Manhattan judge said the government could keep the digital currency and the website.

The forfeiture comes three months after San Francisco entrepreneur Ross Ulbricht was arrested on charges he operated an online marketplace for illegal drugs following a crackdown on the website.

U.S. Attorney Preet Bharara says the bitcoins were seized because they were the proceeds of crimes. The prosecutor says investigators also seized more than $130 million worth of bitcoins from computer hardware belonging to Ulbricht but he's challenging those government forfeiture claims.

A lawyer for Ulbricht hasn't responded to a message seeking comment.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New York State NewsNew York State NewsMore>>

  • New York gives tuition break to veterans

    New York gives tuition break to veterans

    Tuesday, August 19 2014 4:44 PM EDT2014-08-19 20:44:17 GMT
    Education NewsEducation News
    New York is encouraging veterans to go back to school and making it easier for the families of service members who relocate to the state. A new state law signed by Gov. Andrew Cuomo on Monday will give veterans in-state tuition rates at state colleges and universities even if they wouldn't otherwise qualify.
    New York is encouraging veterans to go back to school and making it easier for the families of service members who relocate to the state. A new state law signed by Gov. Andrew Cuomo on Monday will give veterans in-state tuition rates at state colleges and universities even if they wouldn't otherwise qualify.
  • Thrift shops warned about drawstring kids' clothes

    Thrift shops warned about drawstring kids' clothes

    Tuesday, August 19 2014 8:06 AM EDT2014-08-19 12:06:38 GMT
    New York State NewsNew York State News
    New York's attorney general has told 46 thrift shops to stop selling children's garments with drawstrings, clothing prohibited in New York since 2003. The letters follow a survey showing many thrift shops continued selling clothes considered a safety hazard because drawstrings can snag on cribs playground equipment and vehicle doors.
    New York's attorney general has told 46 thrift shops to stop selling children's garments with drawstrings, clothing prohibited in New York since 2003. The letters follow a survey showing many thrift shops continued selling clothes considered a safety hazard because drawstrings can snag on cribs playground equipment and vehicle doors.

  • Robbery at Westchester mall

    Robbery at Westchester mall

    Monday, August 18 2014 5:50 AM EDT2014-08-18 09:50:19 GMT
    A brazen robbery at one of the tri-state area's ritziest malls took place in front of dozens of shocked shoppers on Sunday. It all happened at The Westchester in White Plains. Three men entered the store, broke the cases with hammers, and grabbed luxury timepieces before running from an armed security guard.
    A brazen robbery at one of the tri-state area's ritziest malls took place in front of dozens of shocked shoppers on Sunday. It all happened at The Westchester in White Plains. Three men entered the store, broke the cases with hammers, and grabbed luxury timepieces before running from an armed security guard.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices