US DOJ Seized Over 50,000 BTC Related to Silk Road

The United States Department of Justice (DoJ) announced the historic seizure of over $3 billion worth of bitcoin from a fraudster who allegedly scammed the defunct online darknet marketplace Silk Road and stole more than 50,000 bitcoin.The defendant pled guilty to a wire fraud crime committed a decade ago and could face up to 20 years in prison. The BTC amount was initially seized almost a year ago, on November 9, 2021, and was worth about $3.4 billion at the time. According to the DoJ, Zhong, in September 2012, allegedly defrauded Silk Road by creating nine accounts to hide his identity and trigger the release of approximately 50,000 BTC.