I agree here. This is the actions of a police state. Its quite disturbing to see complete forfeiture of assets without a trial taking place. I know normally tycoons and other scum like Madhoff and Ken Lay deserve to be tarred and feathered and pilloried for their crimes against society and shareholders, but who exactly was DAMAGED by Silk Road? Did all of the buyers receive their goods? If so, what is the DAMAGE?
How does the government have standing to claim silk road DAMAGED all those buyers?
Why doesnt the government go after Jack Ma and Alibaba? (As in they block those transactions and forbid buying off that fraud-racket-exchange)? Alibaba sells stolen fraudulent broken junk that is masqueraded as legitimate (its basically a crime mall) but we let that go and shut down silk road and seize all assets? Doesnt make sense. Criminal rackets operate eyes wide shut but it seems the Fedzilla is only angry that they couldnt collect tax off these transactions in which case he should be sued for that money.
Total forfeiture seems out of the bounds of due process.
ere is what I see Mr. Ulbricht thinking: "Alright so I'm sitting on 20 million worth of BTC, based on what the prosecution has stated, those 20 million dollars are MI NE and do not actually belong to other people. If I let the the feds auction off those BTC and turn them into real money, then if I beat the case I will not have to go through the hassle of finding an exchange willing to handle this much money."
Basically, if Ullbrict can manage to beat the rap against him, then he's just used the US gov't as a bitcoin exchange.