When investigators seized the funds last year, they were worth over $3 billion — now they’re “only” worth around a billion.
When investigators seized the funds last year, they were worth over $3 billion — now they’re ‘only’ worth around a billion.The Department of Justice announced it’s seized around 50,676 Bitcoin that a 32-year-old from Georgia fraudulently obtained from The Silk Road —once called “the Amazon of drugs” — in 2012.
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 underground safe and on a “single-board computer” hidden in a popcorn tin in a bathroom closet, according toThe government seized the Bitcoin on November 9th, 2021, and says that it was worth over $3.36 billion at the time. Since then, the value has dropped precipitously; it’s now worth just over $1 billion.
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