DOJ transfers $2B worth of Bitcoin seized from Silk Road to a new wallet

Approximately $2 billion worth of Bitcoin (BTC), previously confiscated by United States officials and linked to the Silk Road marketplace, has been transferred to a new address.
Based on blockchain data from April 2, a wallet associated with the U.S. Justice Department conducted a transaction of 0.001 Bitcoin to a Coinbase Prime address, potentially as a test transaction. Shortly after, the same wallet moved 30,174 BTC, equivalent to approximately $2 billion at the time, to a different address. Internet detectives have identified this wallet as the one holding Bitcoin seized from James Zhong, who was convicted in 2022 for acquiring crypto from Silk Road through illegal means.
In 2012, Zhong stole over 50,000 BTC from Silk Road. In 2021, U.S. authorities conducted a raid on his property and discovered physical wallets containing Bitcoin, including one that was hidden in a popcorn tin under blankets. The majority of the confiscated cryptocurrency was sent to the same address that transferred more than 30,000 BTC on April 2.
This is an ongoing story, and additional information will be provided as it becomes available.