Police body cam footage shows the Silk Road hacker opening up a laptop with thousands of Bitcoin (BTC) on it in front of federal investigators, not realizing he was incriminating himself. James Zhong was charged by the US government last year for stealing more than 50,000 BTC from the illicit online marketplace Silk Road in […]
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A hacker once in possession of 50,000 Bitcoin (BTC) stolen from the internet marketplace Silk Road is being sentenced to federal prison. In a new press release, the U.S. Department of Justice (DOJ) says that James Zhong has been sentenced to one year and one day in prison for stealing about 50,000 BTC from Silk […]
The post Silk Road Hacker Who Once Held Over $3,000,000,000 in BTC Sentenced to Prison by Feds 11 Years Later appeared first on The Daily Hodl.
According to a court document filed on March 31, 2023, regarding the sentencing of James Zhong, who stole over 50,000 bitcoin from the Silk Road marketplace, the U.S. government plans to liquidate 41,490 bitcoin “over the course of this calendar year.” U.S. Government Discloses Strategy for Selling Confiscated Bitcoin The U.S. government, one of the […]
As of March 25, 2023, the U.S. government held 205,515 bitcoins worth $5.6 billion, which is approximately 1.06% of the circulating supply, according to current statistics. The cache of bitcoins is a result of three forfeitures that began in 2020. Glassnode’s on-chain data reveals that on March 9, about 9,860 bitcoins worth roughly $269 million […]
The man who stole over 50,000 bitcoins from the Silk Road marketplace has pleaded guilty. According to the U.S. Department of Justice, “the seizure was then the largest cryptocurrency seizure” in the history of the DOJ and “remains the department’s second-largest financial seizure ever.” Silk Road Exploiter Pleads Guilty The U.S. Department of Justice (DOJ) […]