![]() ![]() He tricked the marketplace’s withdrawal processing system into releasing almost 50,000 BTCs by triggering over 140 transactions. In September 2012, Zhong created several fraudulent accounts on Silk Road in order to execute a scheme to defraud the marketplace. ![]() This hoard of BTC was recovered from James Zhong, with Zhong defrauding Silk Road back in 2012. With over 50,000 BTCs, the stash was worth an estimated $3.36 billion at the time. The DOJ seized 50,676 $BTC ($3.36B) in connection with Silk Road. This was made towards the end of 2021 in connection with Silk Road, the infamous dark web marketplace.Īs per the official press release, Damian Williams, the U.S Attorney for the Southern District of New York, revealed that a joint investigation by his office and the Internal Revenue Service led to the discovery of a massive Bitcoin stash in November 2021. The U.S Department of Justice is in the news today after it announced its second-largest Bitcoin seizure ever. ![]()
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