There’s always a way to follow the money. The US Department of Justice announced the conviction of James Zhong. The charges were connected to the theft of over 50,000 BTC from Silk Road.
from Zhong’s home in the state of Georgia in November 2021, at which time the total value of the crypto was roughly $3.36 billion.
Williams cited “state-of-the-art cryptocurrency tracing” and “good old-fashioned police work” in the authorities tracking down and recovering the stolen BTC. IRS special agents raided Zhong’s property, finding more than 50,491 BTC in a floor safe and “on a single-board computer that was submerged under blankets in a popcorn tin” in addition to another hoard of more than 11 BTC, $661,900 in cash, and 25 Casascius coins worth roughly 174 BTC.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Attorney Announces $3.4B Crypto Seizure Related to Silk RoadThe United States Attorney for the SDNYnews announced that $3.36 billion of cryptocurrency has been seized in relation to wire fraud committed on defunct darkweb marketplace Silk Road. Reporting by oknightcrypto
Read more »
US authorities seize $3.36 billion in bitcoin from decade-old Silk Road hackThe Department of Justice has seized over 50,000 bitcoin from a hacker who pleaded guilty to illegally obtaining them from Silk Road 10 years ago.
Read more »
U.S. Government Seizes $3.4 Billion Worth of Bitcoin from Silk Road ScammerThe U.S. government has announced its second-largest cryptocurrency seizure to date
Read more »
Feds seized roughly $3.6B worth of Bitcoin in Silk Road fraud caseFederal authorities seized more than $3.36 billion worth of Bitcoin as part of an investigation into fraud involving the Silk Road dark web marketplace, the DOJ announced.
Read more »
Feds announce $3.36 billion seizure of bitcoin, the second-largest recovery of crypto so farJames Zhong pleaded guilty on Friday to stealing $3.36 billion in bitcoin from the illegal Silk Road marketplace.
Read more »