James Zhong Sentenced to Prison for Stealing over 51,000 BTC from Silk Road
James Zhong was sentenced to a year and a day in prison by the Southern District of New York court due to his involvement in criminal activities related to the theft of over 51,000 BTC from the infamous Silk Road marketplace. In 2012, Zhong was able to hack the Silk Road's withdrawal processing s ...
US Government to Sell Confiscated Silk Road Bitcoin Amid Global Banking Crisis
The United States government has announced its plan to auction off more than 51,000 BTC, which were seized during the Silk Road case, in the midst of a global banking crisis. On March 14th, court documents revealed that the US government had already sold 9,861 BTC, valued at over $215 million. Th ...