On Monday, the US Department of Justice announced that a Georgia man named James Zhong has pleaded guilty to wire fraud nine years after stealing more than 50,000 bitcoins from the Silk Road.

After seemingly tipping authorities off to his large cache of Bitcoin a few years ago, James Zhong pleaded guilty to the crime on Friday after authorities found the Bitcoin stored in an ...

Where would you hide $3.4 billion worth of Bitcoin? For James Zhong, the ideal spot was to store it on a computer — with its circuitry exposed — placed in a used Cheetos popcorn tin hidden in ...

James Zhong’s actions date back to September 2012 when he unlawfully obtained over 50,000 bitcoins from the now-infamous dark web site that accepted the cryptocurrency in exchange for drugs and ...

and seized over 51,000 BTC in 2021 from James Zhong, who had stolen it from Silk Road. This 216,000 seized BTC alone would be worth over $17 billion today. As of the beginning of the Trump ...

In the second largest seizure in U.S. Department of Justice history, Internal Revenue Service (IRS) agents obtained the 50,000 Bitcoin during a November 2021 search of the defendant James Zhong's home ...

69,370 BTC from the Silk Road marketplace seizure and 9,800 BTC seized from James Zhong related to Silk Road among many others.

More than 144,000 were recovered at the time of the takedown. But in 2022, James Zhong pled guilty and was convicted of wire fraud. IRS special agents recovered more than $3 billion in ...

69,369 BTC seized in November 2020 from the Silk Road. 51,326 BTC seized from Silk Road hacker James Zhong. Around 41,000 BTC was due to be offloaded in four sales throughout 2023. The U.S ...

and the James Zhong seizure of 51,326 BTC in March 2022. Key Bitcoin seizures by U.S. government. Source: Dune The government Bitcoin stash is kept primarily offline in encrypted storage devices ...