Authorities conducted a seizure of bitcoin stolen from the Silk Road marketplace and secured a guilty plea from the person they said took it, the DOJ announced.
, Zhong committed the wire fraud in September 2012, when he tricked Silk Road’s withdrawal-processing system into releasing the bitcoin into nine accounts he had set up on the illicit marketplace. He tricked the system by making initial deposits of bitcoin and then executing withdrawals "in rapid succession," the agency said.The Department of Justice on Monday, Nov. 7, 2022, announced a massive seizure of bitcoin stolen from the now-shuttered Silk Road online marketplace.
He subsequently moved the bitcoin into various different addresses in an effort to "prevent detection, conceal his identity and ownership, and obfuscate the Bitcoin’s source," the DOJ release said.
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