Following a US Department of Justice raid, a large amount of stolen crypto was discovered in a popcorn tin. According to the DOJ, this was the second biggest financial seizure in recorded history. Moreover, after the seizure, the United States government now holds over 214,000 BTC, making up more than 1% of the total capped BTC supply.
Over 50,676 BTC, valued at approximately $3.36 billion at the time of discovery, were discovered hidden on various devices discovered within the home of a hacker who had stolen them from Silk Road, a dark web marketplace.
James Zhong, 32, pled guilty last week to wire fraud in September 2012, after taking advantage of a flaw in the websites payment structure. Mr Zhong pleaded guilty to hacking the website on November 4th and has surrendered his Bitcoin and other assets to police while awaiting sentencing. The punishment for his crime is up to 20 years in prison.
US Department Of Just Seizure Of 50,676 Bitcoin


Subscribe to the CryptoWeekly Newsletter
Get the top stories, funding deals, technical analysis, cryptocurrency jobs and much more delivered to your inbox, every Monday morning.

May 28,2023
JPMorgan Chase Introduces New Product To Rival ChatGPT.

May 27,2023
ERC-6551 Can Turn Any NFT Into A Wallet

May 25,2023
Binance Officially Enters NFT Lending Sector Via Ether Loans
May 25,2023
Binance Officially Enters NFT Lending Sector Via Ether Loans

May 23,2023
Crypto Exchange License Applications Will Soon Be Accepted By Hong Kong Securities Regulator

May 21,2023
Ledger Defends New Recovery Feature Despite Ongoing Backlash

May 20,2023
Crypto Regulations Discussed Ahead Of Upcoming G-7 Summit

May 19,2023
Governments Can Now Issue CBDCs Via New Ripple Platform

May 16,2023
Supreme Court Sides With Crypto To Push SEC Out

May 14,2023
Traders Remain Optimistic Despite BTC Ordinals Coming Under Scrutiny

May 14,2023
Cardano Looks To Take 2023 By Storm As Hydra Gets Launched

May 13,2023