Bitcoin equivalent to 492 billion yen stolen from the dark site 'Silk Road' will be seized, but as of November 2022, it will be worth less than one-third
The US Department of Justice has announced that it has seized $ 3.36 billion (about 492 billion yen) worth of bitcoins stolen from the large-scale dark site `` Silk Road '' that existed in the past. The seizure amount of $ 3.36 billion is the second highest value in history, following the seizure of Bitcoin worth $ 3.6 billion (about 527 billion yen) from YouTuber in February 2022.
US Attorney Announces Historic $3.36 Billion Cryptocurrency Seizure And Conviction In Connection With Silk Road Dark Web Fraud | USAO-SDNY | Department of Justice
Silk Road is a dark site that existed until 2013 as a trading platform for prohibited drugs such as marijuana and cocaine, and Bitcoin was used instead of dollars for transactions. In 2011, when drug trading on the Silk Road began, the price of Bitcoin rose sharply, and when the Silk Road was closed in 2013, it was confirmed that Bitcoin crashed. , Silk Road has been revealed to have been a major trading platform in the early days of Bitcoin.
What is the impact of the illegal drug site 'Silk Road' on the virtual currency 'Bitcoin'? -GIGAZINE
by Zach Copley
The seized bitcoin was stolen from the Silk Road by a former user of the Silk Road, James Chong. Chung created nine accounts in September 2012, executed more than 140 fake transactions, and illegally withdrew about 50,000 bitcoins from Silk Road. In the end, Chong illegally acquired about 53,500 bitcoins.
After that, 50,676.17851897 bitcoins were seized from Chung's home on November 9, 2021. The seized bitcoin was worth $3.36 billion at the time of the seizure, making it the second-largest seizure in U.S. Department of Justice history.
However, the price of bitcoin has plummeted since November 2022, and the price of the seized bitcoin has fallen to about $ 1.045 billion (about 153 billion yen) at the time of writing the article. .
The most expensive seizure by the U.S. Department of Justice is the $3.6 billion worth of Bitcoin seized from a YouTuber and rapper couple in February 2022. You can check the details of the YouTuber and rapper couple bitcoin laundering case in the following article.
YouTuber and rapper arrested on suspicion of laundering bitcoin stolen by hacking, seized bitcoin equivalent to 420 billion yen, the highest amount in judicial history - GIGAZINE
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