Feds recover $3.36 billion stolen in bitcoin

The US Department of Justice (DOJ) announced that it seized $3.36 billion in bitcoin, the second-largest cryptocurrency recovery on Monday, stolen about a decade ago.

Authorities recovered about 50,676 bitcoins worth around $3.36 billion from James Zhong’s residence in 2021. Zhong stole the assets in 2013 from the now-closed Silk Road Marketplace, a dark website that sold illegal products with cryptocurrency.

James Zhong pleaded guilty to wire fraud last week. This marks the DOJ’s second-largest seizure in the crypto world, following February's $3.6 billion recovery linked to the 2016 hack of Bitfinex.