US Attorney Seizes $3.36 Billion of Bitcoin In Connection With Silk Roadwww.justice.gov/usao-sdny/pr/us-attorney-announces-historic-336-billion-cryptocurrency-seizure-and-conviction
1010 sats \ 26 comments \ @kr 7 Nov 2022 bitcoin
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487 sats \ 1 reply \ @angeredcat777 7 Nov 2022 freebie
My question, is what does the Attorney decide to do with newly acquired digital asset?
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0 sats \ 0 replies \ @kr OP 7 Nov 2022
good question!
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480 sats \ 0 replies \ @someway09 8 Nov 2022 freebie
Gasp
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256 sats \ 0 replies \ @TonyGiorgio 7 Nov 2022
Stealing bitcoin from an illegal site still constitutes as wire fraud... Really though they just wanted to seize this so they can file the motion to steal it back from Ross.
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418 sats \ 0 replies \ @dtonon 7 Nov 2022
IRS-CI Special Agent in Charge Tyler Hatcher said: ... IRS-CI Special Agents are the best in the world at following the money through cyberspace or wherever our financial investigations lead us.
So Bitcoin IS money. Thank you for admit this, yeah!
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289 sats \ 1 reply \ @picco 8 Nov 2022
The detail how he got caught https://nitter.it/FractalEncrypt/status/1590004511015571456
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0 sats \ 0 replies \ @shyfire 8 Nov 2022
Cool thread!
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175 sats \ 1 reply \ @luisschwab 7 Nov 2022
Over 50K BTC and couldn't figure out some seed backups huh? Jeez...
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0 sats \ 0 replies \ @tomlaies 7 Nov 2022
Seed backups don't help when someone else has the seed. You need the other person to not have them ... which is way more difficult.
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130 sats \ 0 replies \ @DeezSats 8 Nov 2022
ZHONG thereafter exchanged through an overseas cryptocurrency exchange all of the BCH Crime Proceeds for additional Bitcoin, amounting to approximately 3,500 Bitcoin of additional crime proceeds. Collectively, by the last quarter of 2017, ZHONG thus possessed approximately 53,500 Bitcoin of total crime proceeds (the “Crime Proceeds”).
As in every case where somebody gets busted, Zhong deanonymized himself by sending coin to an exchange. Exchanges are giant honeypots for the feds to use, because they are KYC touch points that serve to anchor the artifacts of their heuristical analysis (unproveable suspicion) into solidly identifying data. It's like when James Bourne shows up at the embassy with his real passport.
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101 sats \ 2 replies \ @cryptocoin 7 Nov 2022
Watch them just sit on these forever, rather than officially declaring that BTC is now being held by the Treasury (just like some gold is held in a bullion depository).
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36 sats \ 0 replies \ @031ef7d322 7 Nov 2022
In the past they’ve auctioned coins at gsaauctions.gov
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25 sats \ 0 replies \ @tomlaies 7 Nov 2022
The legal entity which "holds" but not "legaly owns" them isn't the federal reserve tho... so who is "they"
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26 sats \ 1 reply \ @cryptocoin 7 Nov 2022
Specifically, law enforcement located 50,491.06251844 Bitcoin of the approximately 53,500 Bitcoin Crime Proceeds (a) in an underground floor safe; and (b) on a single-board computer that was submerged under blankets in a popcorn tin stored in a bathroom closet. In addition, law enforcement recovered $661,900 in cash, 25 Casascius coins (physical bitcoin) with an approximate value of 174 Bitcoin, 11.1160005300044 additional Bitcoin, and four one-ounce silver-colored bars, three one-ounce gold-colored bars, four 10-ounce silver-colored bars, and one gold-colored coin.
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35 sats \ 0 replies \ @Rock 7 Nov 2022
11.1160005300044 additional Bitcoin
What are they measuring here? Other cryptocurrencies? That's definitely way more precision than a satoshi.
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12 sats \ 0 replies \ @02f444d389 7 Nov 2022
Free Ross Ulbricht. Sign the petition : https://www.change.org/p/clemency-for-ross-ulbricht-condemned-to-die-in-prison-for-an-e-commerce-website?hp=
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10 sats \ 2 replies \ @nerd2ninja 7 Nov 2022
Of cryptocurrency huh? I only see Bitcoin. Oh and precious metals as well.
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15 sats \ 1 reply \ @cryptocoin 7 Nov 2022
Definitely a Bitcoin maxi. He even dumped his BCash available after it was created from the 2017 airdrop.
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35 sats \ 0 replies \ @nerd2ninja 7 Nov 2022
These shitcoiners man. Always tryna pretend like they're part of what Bitcoin is doing.
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1 sat \ 4 replies \ @shyfire 7 Nov 2022
Anyone got details on how they identified the physical location of this underground floor safe, obtained a warrant, etc? Was it via the BCH he sold?
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10 sats \ 3 replies \ @shyfire 7 Nov 2022
Answered my own question!
https://www.justice.gov/usao-sdny/press-release/file/1549821/download
Check out page 17 for details about how they traced the transactions
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10 sats \ 2 replies \ @shyfire 7 Nov 2022
bizarre on-chain activity by this guy... check this https://mempool.space/tx/481aa062147384e1511925f7b5bc1c22bdd0f6fdf1664ff2db134ef9b2263516
At first I though it was a whirlpool Tx0, but it's not.
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0 sats \ 1 reply \ @tomlaies 7 Nov 2022
That's pretty interesting. i wish we had much more powerful tools with bigger sankeys to look at this stuff. What's going on? Is there some 4d chess or is this an idiotic attempt at obscuring?
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8 sats \ 0 replies \ @shyfire 8 Nov 2022
It could be they just wanted smaller UTXOs to work with. Something stupid like that.
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0 sats \ 0 replies \ @cokyjgz 8 Nov 2022
Wow I want it too
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0 sats \ 0 replies \ @seantoshi21m 7 Nov 2022
Will they return it to the rightful owners or keep it?
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