E Point Perfect

U.S. Government Seizes $3.4 Billion Worth of Bitcoin from Silk Road Scammer


article image

Alex Dovbnya

The U.S. government has announced its second-largest cryptocurrency seizure to date

The U.S. Department of Justice has seized 50,676 Bitcoin ($3.36 billion) from an individual known as James Zhong.

Zhong, who pleaded guilty to one count of wire fraud, stole the Bitcoin fortune from the now-defunct Silk Road marketplace ten years ago.  

The Bitcoin OG managed to steal the funds by tricking “Silk Road’s withdrawal-processing system.

According to BitMEX Research, the hacker in question was known as “Loader” from the BitcoinTalk forum. On this forum, he once attempted to make a bet with notorious Bitcoin Cash advocate Roger Ver. 


It is worth noting that this is the U.S. government’s second-largest Bitcoin seizure to date. 


Source link

Related posts

Here’s Why Coinbase Q3 Report Is Important for Crypto Market as Its Date Is Announced

$3.6 Billion Worth of Ethereum Got Burned, Here’s What Happens After Merge

XRP Jumps 10% in 24 Hours as Ripple Seeks to Defeat SEC with Arguments

More Than 500 Million New Consumers Might Buy Crypto by 2030: Report

Here Are Top Cryptocurrencies to Watch in December

Dogecoin (DOGE) Now Listed on Top European Crypto Exchange: Details