Bloomberg Law
March 31, 2023, 9:37 PM

Thief Who Held $3.4 Billion in Bitcoin Deserves Prison, US Says

Chris Dolmetsch
Chris Dolmetsch
Bloomberg News

Federal prosecutors urged prison time for a Georgia man who stole more than 50,000 Bitcoin valued at $3.35 billion when authorities seized it in November 2021, which at the time was the second-largest financial seizure in US history.

The seized Bitcoin is now worth $1.48 billion, but James Zhong, 32, should do time behind bars for his heist in 2012 from the Silk Road darkweb site, prosecutors tolda federal judge Friday, noting he deserves leniency for helping authorities recover the stolen crypto. Zhong pleaded guilty in November and wants the judge to spare him a prison term.

Zhong hid ...

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