US Government Sold 9,861 BTC Stolen From Silk Road, Will Sell Remaining 41,490 BTC This Year
The United States government is not holding on to seized bitcoin in this case.
- "On March 14, 2023, the Government sold 9,861.1707894 BTC (of the 51,351.89785803 BTC) for a total of $215,738,154.98. After $215,738.15 in transaction fees, the net proceeds to the Government were $215,522,416.83."
- "Of the Bitcoin forfeited in the Ulbricht case, there remains approximately 41,490.72 BTC, which the Government understands is expected to be liquidated in four more batches over the course of this calendar year."
- The second round of liquidation will not be sold prior to Zhong’s
sentencing date (currently scheduled for Friday, April 14, 2023).
- James Zhong stole over 50,000 Bitcoin from SilkRoad wallets when the marketplace was still functioning. The coins were seized on November 9, 2021.
- "The Government respectfully submits that a sentence of imprisonment, but below the Stipulated Guidelines Range and below Probation’s recommended sentence of 24 months, would be sufficient but not greater than necessary to meet the goals of sentencing in this case."