On July 12, 2023, onchain data shows the U.S. government transferred 9,800 bitcoins (BTC), worth just over $300 million. These bitcoins originally came from James Zhong’s Silk Road hack. In March, the Department of Justice also moved a similar amount of bitcoins associated with Silk Road.
Silk Road Bitcoin Stash Controlled by the Feds Moves, Funds Reportedly Sent to Coinbase
About 9,800 BTC from Silk Road was moved in two transactions on Wednesday, reportedly sent to wallets controlled by Coinbase. At the time of writing, the funds held by the U.S. government are worth $302 million, based on the day’s BTC exchange rates.
The bitcoins came from James Zhong, the convicted Silk Road hacker. At the time of his arrest, federal authorities seized about 51,351.89785803 bitcoins on three separate occasions, along with a collection of precious metals and $661,900 in cash.
🔔🔔🔔🔔🔔🔔🔔🔔8999.90799037 #BTC sent by #US_DEPARTMENT_OF_JUSTICE (Seizure – James Zhong Via Silk R
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