Cryptocurrency scammers arrested
Billions of dollars are hidden in this fund
US authorities have confiscated the assets of a crypto scammer. Total: $3.4 billion worth of bitcoins.
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US police have discovered several billion dollars in a cache – in the form of bitcoins. Some discs were hidden in this underground safe.
The silver chest looks modest. But it is part of an incredible discovery by the US authorities. It is safe under the body. Insider: Chubby booty for a crypto scammer. Investigators found a total of 3.4 billion USD worth of bitcoins in the home of Jason Z.* (32). In addition to the data carriers in the vault that were hidden underground, bitcoins were sleeping on data carriers that were distributed around the house and on a computer. Unbelievable: a data carrier hidden in a popcorn packet.
US authorities made the massive discovery with the fraudster and real estate entrepreneur in November 2021, a federal prosecutor announced Monday in New York. In addition to bitcoins, officials also discovered $661,900 in cash, eight silver bars, and 100 grams of gold.
Z. stole bitcoins ten years ago from the “Silk Road” portal, which has been closed since 2013. The “Silk Road” belongs to the so-called Dark Web, a hidden part of the Internet that is often used for illegal activities. The founder is Ross Ulbricht, who was sentenced to two life sentences plus 40 years in 2015.
He used express transactions to cheat
According to investigators, the 32-year-old pleaded guilty last Friday to illegally acquiring more than $50,000 worth of bitcoins in September 2012. He faces up to 20 years in prison.
Z. defrauded the “Silk Road” using extremely fast transactions from about nine anonymous accounts. He found a loophole in the system by transferring bitcoins and then placing multiple orders within a second so that he could withdraw the funds. It was not checked if the money was available at all, so he was able to instantly transfer larger amounts of bitcoins.
The numbers varied between 500 and 3000 bitcoins. At the time, the value of bitcoin was about ten dollars. Then the value of the bitcoins he obtained in this way increased exponentially over the years. They were discovered during a raid on various devices at his home in Gainesville, Georgia.
US authorities found $3.6 billion from a couple
According to the American magazine,wired“This money has never been touched. Perhaps because he was afraid that changing bitcoins into dollars would put the authorities in his way. But waiting is of no use. And the police caught him through “modern tracking of cryptocurrencies,” as the US authorities explained.
The Z. bitcoins are the second largest amount of cryptocurrencies confiscated by the US authorities so far. Last February, authorities confiscated a record $3.6 billion in bitcoins stolen from a New York couple. (lrc/AFP)
* The name is known
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