U.S. Government Moves Bitcoin From Seized Silk Road Wallet Holding $2 Billion in Funds
Back in November 2021, authorities seized $3.36 billion worth BTC after hacker James Zhong confessed to stealing digital assets from the illegal Silk Road marketplace—where people could use crypto to buy drugs and other illicit goods
The federal government holds Bitcoin that has been seized from criminals and sometimes moves it around. Sometimes they intend to sell it.
In January, the government announced plans to sell 2,933 BTC—about $133.5 million at the time of listing—but said it would provide 60 days for non-defendants to file a petition to claim an interest in the cryptocurrency. Tuesday's movements may be tied to that expected sale.
Back in November 2021, authorities seized $3.36 billion worth BTC after hacker James Zhong confessed to stealing digital assets from the illegal Silk Road marketplace—where people could use crypto to buy drugs and other illicit goods.
