[![The Hacker News](data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mP8Xw8AAoMBgDTD2qgAAAAASUVORK5CYII=)]() The world's favorite crypto-currency has made rounds in the headlines this week. The [FBI]() had managed to seize 144,000 [Bitcoins]() worth some $28.5 million at current exchange rates from Silk Road's founder, that's the largest ever seizure of the [cryptocurrency](). Bitcoin is an open-source, decentralised, digital currency, whose production is designed to simulate the mining of a commodity, like gold. These Bitcoins belonged to [Ross Ulbricht](), the 29-year-old who allegedly created and managed the **[Silk Road]()**, the popular anonymous drug-selling site. In March, 7000 of 10,000 items on Silk Road were drugs. Earlier this month [Ulbricht was arrested]() and the website was taken offline by the Department of Justice and charged with engaging in a drug trafficking and [money laundering]() conspiracy as well as computer hacking and attempted murder-for-hire. The Bitcoin address now known as **[DPR Seized Coins]()** finished receiving the mass of cryptocurrency and Authorities are also eyeing 110,000 bitcoins ($22 million) in a separate wallet that they believe also belonged to Ulbricht. In total, including Silk Road Bust - The FBI is now in control of 174,000 Bitcoins which is about 3.15 percent of all Bitcoins in circulation. A few weeks back, the FBI said that Seized Bitcoins from Silk Road will be [deposited in the U.S. Treasury]() after judicial process will over.

FBI Seized 144,000 Bitcoins worth $28.5 Million From Silk Road Bust