Who Owns the World’s Biggest Bitcoin Wallet? The FBI

[FrankRep]

Who Owns the World’s Biggest Bitcoin Wallet? The FBI

Who Owns the World’s Biggest Bitcoin Wallet? The FBI
http://www.wired.com/wiredenterprise/2013/12/fbi_wallet/

Wired


Who owns the single largest Bitcoin wallet on the internet? The U.S. government.

In September, the FBI shut down the Silk Road online drug marketplace, and it started seizing bitcoins belonging to the Dread Pirate Roberts — the operator of the illicit online marketplace, who they say is an American man named Ross Ulbricht.

The seizure sparked an ongoing public discussion about the future of Bitcoin, the world’s most popular digital currency, but it had an unforeseen side-effect: It made the FBI the holder of the world’s biggest Bitcoin wallet.

The FBI now controls more than 144,000 bitcoins that reside at a bitcoin address that consolidates much of the seized Silk Road bitcoins. Those 144,000 bitcoins are worth close to $100 million at Tuesday’s exchange rates. Another address, containing Silk Road funds seized earlier by the FBI, contains nearly 30,000 bitcoins ($20 million).
...

 

[Romulus]

Guess they are cashing out since its dropping like a rock.

 

[ronpaulfollower999]

People can own more than one wallet.

 

[Romulus]

Since the FBI own it, I guess that makes it the peoples wallet. We are rich!

 

[mczerone]

Who Owns the World’s Biggest Bitcoin Wallet? The FBI
http://www.wired.com/wiredenterprise/2013/12/fbi_wallet/

Wired


Who owns the single largest Bitcoin wallet on the internet? The U.S. government.

In September, the FBI shut down the Silk Road online drug marketplace, and it started seizing bitcoins belonging to the Dread Pirate Roberts — the operator of the illicit online marketplace, who they say is an American man named Ross Ulbricht.

The seizure sparked an ongoing public discussion about the future of Bitcoin, the world’s most popular digital currency, but it had an unforeseen side-effect: It made the FBI the holder of the world’s biggest Bitcoin wallet.

The FBI now controls more than 144,000 bitcoins that reside at a bitcoin address that consolidates much of the seized Silk Road bitcoins. Those 144,000 bitcoins are worth close to $100 million at Tuesday’s exchange rates. Another address, containing Silk Road funds seized earlier by the FBI, contains nearly 30,000 bitcoins ($20 million).
...

They've seized the hardware the private key is stored on, but it doesn't "own" it.

And they definitely don't "control" it - they can't break the encryption. Unless Ulbricht gave them the passwords and it hasn't been reported.

And, as of now, they're worth about $80million.

 

[Dianne]

Since the FBI own it, I guess that makes it the peoples wallet. We are rich!

Somehow I don't think it will go that way. Probably Obama's wallet.

 

[idiom]

The account details and the bitcoin chain histories are worth more to the FBI than the bitcoins themselves.

 

[cindyEvans]

I laughed hard when I read that Obama wallet! The encryption remains a question. They might possibly hack it too. Definitely they cannot decode it easily.​

 

[RonPaulIsGreat]

Don't worry the bitcoins will get back into the economy. They'll just use them paying for murders, prostitutes, and drugs. Of course as a part of an "investigation" in the war on terror.

 

[kpitcher]

Don't worry the bitcoins will get back into the economy. They'll just use them paying for murders, prostitutes, and drugs. Of course as a part of an "investigation" in the war on terror.

Sounds like a typical day for the secret service

I wonder if any escort services accept them?

 

[kpitcher]

Don't worry the bitcoins will get back into the economy. They'll just use them paying for murders, prostitutes, and drugs. Of course as a part of an "investigation" in the war on terror.

Sounds like a typical day for the secret service

I wonder if any escort services accept them?