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James Zhong pleaded guilty to the wire fraud charges in November 2022 and had been awaiting sentencing for his role in the “unlawfully obtained” Bitcoin scheme. Go to Source Powered by WPeMatico
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 … Read more
On March 14, 2023, the government sold 9,861 BTC for $215.7 million, according to court documents filed on March 31. Go to Source Powered by WPeMatico
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 … Read more
US law enforcement agencies have confiscated thousands of BTC from Silk Road over the years and a significant chunk of it has been auctioned from time to time. Go to Source Powered by WPeMatico
United States law enforcement officials announced on Monday that the U.S. Department of Justice (DOJ) seized “approximately 50,676.17” bitcoin from a Silk Road thief. The latest seizure adds to the cache of bitcoins the U.S. government holds today as three forfeitures during the last two years have led to a stash of around 214,682 bitcoin … Read more
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) … Read more
U.S. Attorney Damian Williams cited “state-of-the-art cryptocurrency tracing” and “good old-fashioned police work” in the authorities recovering the stolen Bitcoin. Go to Source Powered by WPeMatico
Following the demise of the largest darknet marketplace (DNM) in mid-July 2017, the underground market Alphabay returned in August 2021, and during the last year, Alphabay has managed to once again regain its position as the world’s top DNM. Furthermore, Alphabay relentlessly conducted business amid a domino effect of DNMs folding last year and throughout … Read more
Offenders that use cryptocurrency for illegal activity in Australia are more likely to receive a tougher sentence. Go to Source Powered by WPeMatico
