James Zhong received a one-year and one-day prison sentence in connection with his decade-old offense from the Southern District of New York, a crime that almost allowed him to get away with billions of dollars.
Darknet fraudster James Zhong could face 20 years in prison for stealing more than 50,000 BTC tied to the Silk Road marketplace using nine of his accounts that processed over 140 transactions.
A recently uncovered court filing shows that Ulbricht agreed to clear his $183 million debt by forfeiting all claims to a trove of BTC connected to the notorious marketplace.
The Department of Justice has seized over $1 billion in BTC, BSV, BCH, and BTG in relation to a silk road hack that took place in 2013.
The New York financial services regulator has hired Richard Weber, a former IRS chief who led investigations into Silk Road as its new general counsel.
The suspect is alleged to have sold and distributed heroine and meth, accepting payments only in BTC. If found guilty, she faces over 100 years in prison.
It’s been another productive week for the cryptocurrency space with activity and progress being shown across the globe.
Adoption was the theme of the 2014, and the signs showed as early as January when Blockchain.info revealed that it had surpassed 1 million Bitcoin wallets.
The seller peddled drugs on Silk Road for years and pled guilty to laundering $19M from the operation via BTC.
In a Medium post, titled "Careful what you wish for," Wright wrote how Bitcoin got its start as well as the challenges it weathered, explaining along the way why he left and why he's returned.
Dr. Craig Wright points out that society is bound with rules to maintain civility which should be applied to cryptocurrency as well.