U.S. lays claim to $1 billion in bitcoin stolen from Silk Road

Published by
Reuters

NEW YORK (Reuters) – The United States is seeking a forfeiture order for more than $1 billion in Bitcoin that was stolen from the Silk Road online marketplace in 2012, federal prosecutors in Manhattan said on Monday. In the second largest seizure in Department of Justice history, law enforcement seized the 50,000 Bitcoin during a November 2021 search of the Gainesville, Georgia, home of James Zhong. Zhong on Friday pleaded guilty to wire fraud that tricked Silk Road’s processing system into releasing the funds into his accounts. The Bitcoin was at the time worth more than $3 billion, but the v…

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