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US Appeals Court Rules FBI Not Liable for Loss of 3,400 Bitcoin

A US court upheld that the FBI was not responsible for a destroyed hard drive containing BTC after the owner later acknowledged its contents.

BTC

Summary

A US court ruled the FBI is not liable for the loss of a hard drive containing 3,400 Bitcoin, following the owner's initial denial of owning the cryptocurrency. The case adds to an estimated 3.7 million BTC—around 18% of total supply—considered permanently lost.

Terms & Concepts
  • Bitcoin (BTC): A decentralized digital currency operating without a central bank or single administrator, transferable on the peer-to-peer Bitcoin network.
  • US Appeals Court: A higher judicial body in the United States that reviews decisions and outcomes of lower trial courts.
  • FBI (Federal Bureau of Investigation): The principal federal law enforcement agency of the United States, tasked with investigating and enforcing federal laws.