Feds announce seizure of $3.36 billion in bitcoin stolen a decade ago from illegal Silk Road marketplace—the second-largest crypto recovery
Summary
According to authorities, Zhong stole bitcoin from the illegal Silk Road marketplace, a dark web forum on which drugs and other illicit products were bought and sold with cryptocurrency. "For almost ten years, the whereabouts of this massive chunk of missing Bitcoin had ballooned into an over $3.3 billion mystery," U.S. Attorney Damian Williams said in a press release. Special Agent in Charge Tyler Hatcher, of the Internal Revenue Service – Criminal Investigation, said Zhong used a "sophisticated scheme" to steal the bitcoin from Silk Road. His profile also states he was a "large early bitcoin investor with extensive knowledge of its inner workings" and that he had software development experience in computer programming languages. In March 2022, a different hacker found vulnerabilities in the decentralized finance platform Ronin Network and made off with more than $600 million — the largest hack to date.
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