An enormous stack of seized Bitcoin (BTC) belonging to the US authorities is on the transfer, on-chain knowledge exhibits.
Based on Blockchain.com, an address labeled as “The US Division of Justice” despatched a complete of 9,825 BTC, value round $302 million, to a sequence of addresses.
It’s attainable the Bitcoin is being despatched to a crypto alternate like Coinbase to be bought on the open market.
In March, the federal government announced its intention to unload the 51,351 BTC that it seized from James Zhong, who managed to hack illicit on-line market Silk Highway. Federal authorities tracked down the stolen Bitcoin at Zhong’s Georgia dwelling, seizing the Bitcoin in November 2021, when it was value $3.6 billion. Zhong pleaded responsible to committing wire fraud in reference to the theft.
At the moment, the identical day that the federal government’s Bitcoin was noticed transferring, the USA Legal professional for the Southern District of New York announced {that a} senior adviser to the Silk Highway market was sentenced to twenty years in jail for his function within the operation.
Roger Thomas Clark, additionally recognized by a sequence of on-line monikers, was sentenced for conspiring to distribute “large portions” as he labored alongside Ross Ulbricht, the principle proprietor and operator of the web site, who’s at present serving a life sentence.
Says U.S. Legal professional Damian Williams,
“Silk Highway was a secret on-line market for unlawful medicine, laptop hacking companies, and a number of different legal exercise. Roger Thomas Clark was a central determine in serving to to steer Silk Highway and in advocating violence, even homicide, to guard this digital drug empire. At the moment’s sentence is one other reminder that legal marketplaces, like Silk Highway, are a street to jail.”
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