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.
April 19,2024
Everything You Need To Know About World Chain
April 19,2024
Ethereum TPS Charts Have A New Leader In Degen Chain
April 18,2024
New AML And CFT Policies Supported By Senator Elizabeth Warren
April 18,2024
Two NFT Games Offloaded As Yuga Labs Aims To Liberate BAYC Team
April 17,2024
Klickl Obtains FSP In Abu Dhabi As The UAE Looks Toward The Future
April 17,2024
New Meme Coin Bursts Onto The Scene As DRDOGE Skyrockets In Value
April 16,2024
Everything You Need To Know About The 2024 Bitcoin Halving
April 16,2024
Top Tax Experts Provide Valuable Advice For Cryptocurrency Holders
April 15,2024
Web3 Fundraising Deals - 10th April To 15th April, 2024
April 15,2024
Crypto Becomes Increasingly Popular As Brazilian UFC Fighter Promotes Bitcoin
April 15,2024
Yomi Provides Insight Into DOGE Golden Cross As SHIB Whale Activity Surges
April 14,2024