US Supreme Court rejects Battle Born's case for ownership of 69,370 BTC seized from Silk Road

BlockBeats news, on October 8th, according to Cointelegraph, the US Supreme Court has refused to hear a case regarding the ownership of 69,370 BTC (worth about $4.38 billion) seized by the US government from the Darknet market Silk Road. The appeal was filed by Battle Born Investments, which claimed to have acquired the rights to these seized BTC through bankruptcy assets. The Supreme Court’s refusal to hear the case may allow the US government to now sell this batch of BTC. Prior to this, Battle Born failed to convince the district court (in 2022) and the appellate court (in 2023) that it obtained these BTC through a bankruptcy claim after the closure of Silk Road in 2013. The company claimed that the debtor Raymond Ngan in the bankruptcy case is the mysterious ‘Individual X’, who stole billions of dollars worth of BTC from Silk Road. Both levels of the court were unconvinced. Last year, a San Francisco appellate judge dismissed the case, stating that the company had no legitimate claim to these BTC.