DOJ Seizes $3.6 Billion Worth Bitcoin Stolen From Silk Road in 2013

IRS seized $3.36 billion worth of bitcoins from a Silk Road hacker.

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Defendant James Zhong pleaded guilty for committing wire fraud back in September 2012.

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The DOJ has announced a seizure of $3.36 billion in bitcoin stolen a decade ago from illegal Silk Road marketplace, which the FBI shut down in 2013.

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This is the federal government’s second-largest seizure of cryptocurrency.

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Zhong's plea comes approximately one year after the DOJ seized the currency from his home in Georgia.

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The maximum potential sentence for this crime is 20 years in prison.

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The Silk Road was an illegal marketplace on the darknet that operated between 2011 and 2013 and that primarily used bitcoin as a method of payment.

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