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.

January 31,2023
4 of the Best Crypto Apps to Check Out in 2023

January 29,2023
Senator Wendy Rogers Wants To Make Bitcoin Legal Tender In Arizona

January 27,2023
Porsche NFT Policies Lead To Confusion As 911 Inspired Tokens Fail To Sell Out

January 26,2023
Bitcoin Is The Best Performing Asset In The World According To Goldman Sachs

January 24,2023
Ethereum Developers Finalize Shadow Fork For Shanghai Upgrade

January 22,2023
Over 30K Scholarships To Be Provided By Binance Charity In 2023

January 22,2023
Stargate Finance Deploys On Metis Andromeda As New Partnership Gets Announced

January 20,2023
Chapter 11 Bankruptcy Decided Upon By Crypto Lending Unit Of Genesis

January 17,2023
3 Interesting Blockchain Project Ideas For Beginners

January 17,2023
New Stablecoin Backed By Gold To Be Launched Via Russia And Iran Collaboration

January 16,2023
Crypto Education On The Rise As Market Begins Slow Road To Recovery

January 13,2023