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Federal prosecutors in Manhattan stated Monday that the US wants to seize $1bn in bitcoin stolen from Silk Road. [{ "selector": ".mqalz-a", "duration": "500ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

IRS investigators seized 50,000 bitcoins during a November 2021 search of James Zhong's house in Gainesville, Georgia. [{ "selector": ".uikkr-a", "duration": "500ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

It was the second-largest seizure in US Department of Justice history. [{ "selector": ".nnabp-a", "duration": "500ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Zhong, 32, pled guilty to wire fraud for deceiving Silk Road's processing system in 2012. [{ "selector": ".fedgp-a", "duration": "500ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Bitcoin was worth $3bn when confiscated. Its value has dropped by two-thirds. [{ "selector": ".fqwzq-a", "duration": "500ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

IRS special agent Trevor McAleenan said some stolen bitcoin was recovered on a PC in a popcorn tin in a bathroom closet. [{ "selector": ".msppr-a", "duration": "500ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

US attorney Damian Williams in Manhattan claimed the lost bitcoin amounted to $3.3 billion. "We'll follow the money..." even a popcorn tin's electrical board." [{ "selector": ".ortrb-a", "duration": "500ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

In 2013, the US authorities seized Silk Road, calling it a drug and money-laundering bazaar. [{ "selector": ".oetio-a", "duration": "500ms", "fill": "forwards", "delay": "1250ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

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US justice department seizes $3 billion in stolen bitcoins

23 sep, 2022

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