The U.S. Court of Appeals ultimately ruled to confiscate 69,370 bitcoins related to the dark web Silk Road

ChainCatcher news, the U.S. Court of Appeals finalized an authorization on Wednesday to formally seize 69,370 bitcoins (worth approximately $3 billion) and other cryptocurrencies associated with the now-defunct dark web Silk Road marketplace.

The ruling was initially made in August, but according to a document from the U.S. Court of Appeals for the Ninth Circuit, the ruling will now take effect. The document submitted on Wednesday lists Silk Road founder Ross Ulbricht as the defendant, with two claimants and the U.S. government as plaintiffs.

According to the original indictment, the U.S. government has taken control of these cryptocurrencies after the so-called "Person X" attacked the Silk Road and took control of its funds.