DOJ Seizes Nearly $4 Billion in Bitcoin From Silk Road Thief

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The Justice Department announced that law enforcement seized $3.36 billion of bitcoin from a man, James Zhong of Gainesville, Georgia, who “unlawfully obtained” more than 50,000 bitcoin from the dark web market Silk Road over a decade ago.

The U.S. Attorney for the Southern District of New York said that Zhong pleaded guilty on November 4 to committing wire fraud in September 2012. The charge carries a maximum sentence of 20 years in prison. The plea came almost a year after law enforcement seized 50,676.17851897 bitcoin, the largest seizure in DOJ history, then valued at more than $3.36 billion, from Zho…