Silk Road Bitcoin Seizure: Analytics Firm Claims Tokens Worth Millions Still ...
Analytics firm Coinfirm says the US Department of Justice (DOJ)’s seizure of digital assets associated with the now-defunct Silk Road left behind tokens worth millions of dollars. According to Coinfirm, there are still valuable balances held on forked addresses originating from that wallet. On November 5, the DOJ announced that a hacker known as Individual X had cooperated with law enforcement and agreed to relinquish control of over $1 billion worth of bitcoins. At the time of the seizure of the 69,370 BTC, news.Bitcoin.com reported the DOJ confirming that 1HQ3-the address that was....
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The man who stole over 50,000 bitcoins from the Silk Road marketplace has pleaded guilty. According to the U.S. Department of Justice, “the seizure was then the largest cryptocurrency seizure” in the history of the DOJ and “remains the department’s second-largest financial seizure ever.”
Silk Road Exploiter Pleads Guilty
The U.S. Department of Justice (DOJ) announced Monday that James Zhong pleaded guilty on Friday “to committing wire fraud in September 2012 when he unlawfully obtained over 50,000 bitcoin from the Silk Road dark web....
On the heels of Ross Ulbricht’s official Silk Road court case, it seems like the site is back online and more powerful than ever. The Silk Road returned under the title, “Silk Road Reloaded,” and claims to be even more private than its TOR predecessor. Utilizing an alternative network, called the Invisible Internet Project (I2P), the Silk Road Reloaded can only be accessed by downloading special software. In order to access the new Silk Road, interested parties need to download I2P software. The website URL is silkroadreloaded.i2p, but standard internet browsers will realize that the site....
“The Silk Road underground website was the global venue for drug trafficking and money laundering, producing millions in dirty profits. DEA and others followed the money throughout this investigation, leading to this seizure. The website was used by drug dealers to put illicit drugs into our communities and literally at our doorsteps nationwide,” said DEA Special Agent in Charge, Brian R. Crowell. The US Marshals announced that it will auction off another set of 50,000 bitcoins, worth about $11.7m at press time, in March. The bitcoins were originally obtained by the FBI when they shut down....
The seizure on Tuesday, tied to the Silk Road marketplace, is reported to be the largest the U.S. has ever effected
Back in October many of the trolls and ents of Reddit muttered and mumbled to themselves about joining together in a class action lawsuit to claim pieces of the 29000 Bitcoins seized by the FBI on October 2nd, 2013. The 29,000 Bitcoins taken from Silk Road servers on that day belonged to the international motley crew of buyers and sellers on Silk Road. Many of those Bitcoins were tied up in escrow in ongoing deals, or simply sitting in the accounts of buyers and sellers waiting for withdrawal or use. Nothing came of all the hubbub raised by Silk Road users about their Bitcoins being swept....