US justice department seizes bitcoins worth more than $3bn stolen a decade ago

US justice department seizes bitcoins worth more than $3bn stolen a decade ago

A search of James Zhong’s Georgia home uncovered 50,000 bitcoins found on a circuit board in the bottom of a popcorn tin

The United States is seeking the forfeiture of more than $1bn in bitcoin stolen from the Silk Road online marketplace, federal prosecutors in Manhattan said on Monday.

In the second largest seizure in US Department of Justice history, Internal Revenue Service (IRS) agents obtained the 50,000 bitcoins during a November 2021 search of the defendant James Zhong’s home in Gainesville, Georgia.

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