The US Department of Justice (DOJ) was authorized to sell approximately 69.370 Bitcoin seized from the darknet drug market Silk Road, an amount worth about $6,5 billion, she said DB News on Wednesday.
The ruling will end a years-long legal battle over the ownership of BTC. On December 30, a federal judge ruled in favor of the Justice Department's request to liquidate its assets Silk Road, the publication said. The Battle Born Investments, which had claimed the Bitcoin stockpile, ultimately failed in its attempt to delay the sale.
As DB News reports, the group had a Freedom of Information Act (FOIA) request seeking the identity of “Individual X,” who originally held the Bitcoins, but Battle Born Investments' attempt proved unsuccessful.
Battle Born's legal counsel criticized the Justice Department's handling of the case, claiming the department used "procedural gimmicks" to seizure assets with the aim of avoiding control.
The Justice Department, in its arguments before the court, cited the volatility of Bitcoin prices as a motivation for seeking a quick sale of the seized assets.
One millionfaceof the Ministry of Justice, said: "The government will proceed further in accordance with the court's decision."
The sale looks set to go ahead immediately after the US Supreme Court refused to accept an appeal filed by Battle Born last October challenging the seizure of Bitcoins.
That particular court ruling paved the way for the US government to sell $4,4 billion worth of Bitcoin (at the time). The US Marshals Service is expected to handle the sale process, which will be one of the largest sales of seized cryptocurrencies in history.
