Feds seize a whopping 50,000 BTC

There's a lot of drama going on within FTX right now. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $980.91B (-4.59%) 24 Hour Volume $118.28B (+44.01%) Notable Movers[(TON) $1.62]( (+3.64%) Notable Movers (DeFi)[(LINK) $8.73]( (+6.05%) Bitcoin Dominance 38,60%[(-0,18%)]( Bitcoin Price[(BTC) $19,685.55 (-5.31%)]( Ethereum Price[(ETH) $1,481.15 (-6.76%)]( Cardano Price[(ADA) $0,3841 (-5.21%)]( Join TraderWagon & Win Exclusive $5000 1st Trade Bonus! TraderWagon, The World Class Copy Trading Platform, Offers Fixed Amount Copy Trading At $10 USDT, Try Now to Grab $5000! [Join Here.]( Editor's Note Where Do You Keep Your Bitcoin? Yesterday, the U.S. Attorney’s office seized billions in Bitcoin that had previously been stolen from the Silk Road. The thief had conducted a complex series of transactions in order to trick the Silk Road’s systems into giving him 50,000 BTC, and was able then for years to maintain his anonymity on the darknet. All of this clearly required a very high level of technical skill. However, almost ten years later, the hacker has been caught with the Bitcoin in his house. Where was it hidden? In a hard wallet in some expensive, fireproof safe with the seed phrase written on 20 pieces of paper hidden all over the world? Nope. In a computer, “submerged under blankets” in a popcorn tin stored in a bathroom closet. That’s less of hot storage or cold storage…and more like cozy storage. You have your blankets, popcorn and the plot of a cozy thriller about cybercrime. Netflix and crime, anyone? Today’s Top Stories Check out [CoinMarketCap Alexandria]( for tech deep dives, analysis, daily news and easy-to-understand guides on how crypto works! [Today’s Top Stories ] [Tuesday's CoinMarketRecap podcast!]( 🔥 Listen to all the day's top crypto stories while you're on the move with the CoinMarketRecap podcast. You can find us on [Apple Podcasts]( [Spotify]( and [Google Podcasts]( too! ['FTX is fine,' Sam Bankman-Fried insists]( 😬 Sam Bankman-Fried has insisted "FTX is fine" after his crypto empire was rocked by a series of allegations. The saga links back to a CoinDesk article last week that delved into the finances of Alameda Research, FTX's sister company. An investigation revealed its balance sheet mainly consisted of FTT — a token issued by FTX — raising questions about liquidity. To make matters worse, Binance's CEO Changpeng Zhao then said his exchange would offload the FTT remaining on its books. Alameda insists the balance sheet scrutinized by CoinDesk is incomplete, and misses out $10 billion in other assets it owns. Nonetheless, the flurry of speculation has hit FTT hard — and it has fallen by 30% over the past seven days. [Bitcoin is now back below $20,000]( 📉 The crypto markets suffered a sharp pullback in the early hours of Tuesday — dragging Bitcoin back below $20,000. A sudden correction means BTC has now handed back all of the gains made late last week, when the world's biggest cryptocurrency surged to two-month highs of $21,466. While Bitcoin is down 4.9% on the day at the time of writing, many altcoins are faring far worse — with Ether sliding 5.8%. And the reversal of fortunes has been especially calamitous for Dogecoin, which has fallen by 12.7% over the past 24 hours. As euphoria surrounding Elon Musk's acquisition of Twitter begins to fade, DOGE has also plunged by 30% on a seven-day timeframe. This might all be linked to nerves over FTX, or jitters surrounding the U.S. midterms. [Feds seize a whopping 50,676 BTC]( 🚨 A whopping 50,676 BTC has been seized by the U.S. Department of Justice — the second-largest seizure ever. The stash was recovered back in November 2021 — days after Bitcoin hit a new all-time high — and was worth $3.36 billion at the time. It comes after a man called James Zhong pled guilty to unlawfully obtaining the Bitcoin from the Silk Road marketplace all the way back in 2012. Explaining how the seizure was achieved, U.S. Attorney Damian Williams said: "For almost 10 years, the whereabouts of this massive chunk of missing Bitcoin had ballooned into a $3.3 billion mystery. Thanks to state-of-the-art tracing and old-fashioned police work, law enforcement located and recovered this impressive cache." Thanks for reading! Have a great day — more news tomorrow! 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