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Accused Silk Road Founder Wants His $30 Million In Bitcoins Back

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ROSS ULBRICHT
FILE- In this Oct. 4, 2013 file photo, an artist rendering showing Ross William Ulbricht during an appearance at Federal Court in San Francisco is shown. Authorities say that Ulbricht had spent most of three years "evading law enforcement, living a double life" while operating an underground website known as Silk Road, a black-market bazaar for cocaine, heroin and other drugs, while portraying himself as an Internet trailblazer. On Thursday, Nov. 21, 2013, a federal judge ordered Ulbricht held | ASSOCIATED PRESS

NEW YORK (AP) — An Internet entrepreneur accused of being behind an online marketplace for illegal drugs has asked the government to return more than $30 million in bitcoin seized from his computers.

Ross Ulbricht, of San Francisco, was arrested in October following a crackdown on the black market website Silk Road.

Federal prosecutors in New York say Ulbricht went by the online handle the Dread Pirate Roberts and turned the underground site into a place where anonymous users could buy or sell contraband and illegal services.

In court filings, prosecutors say they seized 144,336 bitcoins from Ulbricht's computers.

Though subject to fluctuations in value, the virtual currency is exceedingly valuable, but lightly regulated.

Ulbricht says in a legal filing that the currency should be returned because it isn't subject to civil forfeiture rules.

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