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- Apr 5, 2024
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The US authorities continue to hide the identity of the hacker known as "face X".
In one of the US Department of Justice lawsuits, there is a man who is believed to be the hacker nicknamed "X" who stole $ 4 billion worth of bitcoins from the wallet of the underground market Silk Road on the darknet. Person X agreed to hand over the stolen cryptocurrency to the authorities in exchange for avoiding prosecution. As part of the deal, the authorities agreed not to disclose his identity, although court documents refer to “person X” as “he”.
The Bitcoin address known as “1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx” or simply “1HQ3” has long been the subject of online discussion due to account inactivity and its consistent place in the top 10 richest Bitcoin addresses. In addition, the prospect of 1HQ3 being linked to Silk Road - and representing the proceeds of a criminal operation - only heightened interest in the account holder. Silk Road's connection to 1HQ3 was confirmed in a seizure document filed by Justice Department attorneys with the US District Court in San Francisco. Although the contents of "1HQ3" have been moved to a government-controlled wallet, the court still has to approve the government's sale of bitcoin.
When the Justice Department went to court for permission to auction the seized assets and transfer the money to the Treasury, Las Vegas entrepreneur Jay Bloom intervened, claiming that he was owed a portion of the funds. Although Ngan is not explicitly mentioned in the Bloom documents, it is believed that Bloom's former business partner associated with the 1HQ3 wallet is the "X person." As reported by Smoking Gun, Bloom demanded to recover $ 2.2 billion from 49-year-old Raymond Ngan.
Recall that the Silk Road website was closed by the FBI in 2013, and its alleged organizer, Ross Ulbricht, was convicted in 2015 and received a life sentence. At the same time, the FBI confiscated 174 thousand bitcoins from Ulbricht, but according to experts, his income (commission from the site's activities) could reach 440 thousand bitcoins. And these free funds could well remain in circulation. The Silk Road wallet was considered the fourth largest Bitcoin holder in the world. As Tom Robinson, co-founder of the London-based agency Elliptic, which tracks all cryptocurrency transactions, said, the funds withdrawn from the account came to him in 2013 from addresses associated with Silk Road.
In November, the US Department of Justice reported that a hacker had stolen a large amount of Bitcoin from Ulbricht in 2012. At the time of the theft, bitcoin cost about $ 5, that is, at that time the total value of the stolen funds was $ 359 thousand.Today, the price of bitcoin exceeds $ 60 thousand, which means that the value of the stolen cryptocurrency is more than $ 4 billion.
In one of the US Department of Justice lawsuits, there is a man who is believed to be the hacker nicknamed "X" who stole $ 4 billion worth of bitcoins from the wallet of the underground market Silk Road on the darknet. Person X agreed to hand over the stolen cryptocurrency to the authorities in exchange for avoiding prosecution. As part of the deal, the authorities agreed not to disclose his identity, although court documents refer to “person X” as “he”.
The Bitcoin address known as “1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx” or simply “1HQ3” has long been the subject of online discussion due to account inactivity and its consistent place in the top 10 richest Bitcoin addresses. In addition, the prospect of 1HQ3 being linked to Silk Road - and representing the proceeds of a criminal operation - only heightened interest in the account holder. Silk Road's connection to 1HQ3 was confirmed in a seizure document filed by Justice Department attorneys with the US District Court in San Francisco. Although the contents of "1HQ3" have been moved to a government-controlled wallet, the court still has to approve the government's sale of bitcoin.
When the Justice Department went to court for permission to auction the seized assets and transfer the money to the Treasury, Las Vegas entrepreneur Jay Bloom intervened, claiming that he was owed a portion of the funds. Although Ngan is not explicitly mentioned in the Bloom documents, it is believed that Bloom's former business partner associated with the 1HQ3 wallet is the "X person." As reported by Smoking Gun, Bloom demanded to recover $ 2.2 billion from 49-year-old Raymond Ngan.
Recall that the Silk Road website was closed by the FBI in 2013, and its alleged organizer, Ross Ulbricht, was convicted in 2015 and received a life sentence. At the same time, the FBI confiscated 174 thousand bitcoins from Ulbricht, but according to experts, his income (commission from the site's activities) could reach 440 thousand bitcoins. And these free funds could well remain in circulation. The Silk Road wallet was considered the fourth largest Bitcoin holder in the world. As Tom Robinson, co-founder of the London-based agency Elliptic, which tracks all cryptocurrency transactions, said, the funds withdrawn from the account came to him in 2013 from addresses associated with Silk Road.
In November, the US Department of Justice reported that a hacker had stolen a large amount of Bitcoin from Ulbricht in 2012. At the time of the theft, bitcoin cost about $ 5, that is, at that time the total value of the stolen funds was $ 359 thousand.Today, the price of bitcoin exceeds $ 60 thousand, which means that the value of the stolen cryptocurrency is more than $ 4 billion.