Posted on 11/11/2022 3:17:35 AM PST by C19fan
A Georgia man faces up to 20 years in prison after more than $3 billion in stolen Bitcoin was found stashed in a popcorn tin at his home in what authorities call the second largest seizure of cryptocurrency.
James Zhong, 32, pleaded guilty on Friday to stealing the Bitcoin a decade ago from the illegal Silk Road marketplace, which the FBI shut down in 2013.
The U.S. Department of Justice announced this week that authorities raided Zhong's Gainesville home in November 2021 where they found 50,676 Bitcoin with a value of $3.36 billion at the time.
(Excerpt) Read more at dailymail.co.uk ...
The Meritless Garland needs the Do-Re-Me.
They can be stolen off of exchanges etc but each one is an online ledger that can be traced. So he had billions worth of Bitcoin but the second he tried to sell any of it, they were going to nab him.
There are some privacy tokens like Monero that can’t be traced but all the others can. Needless to say, the feds have been trying desperately to crack Monero’s code and/or to ban it - without success.
Nothing good can come from Gainesville.
If the Silk Road market pace is illlegal, how can you steal anything from it. Fedgov is only involved due to the amount of money involved.
I always confuse Gainesville, GA with the FL version. Who is Ganies person anyway?
Gainesville, Georgia is north of Athens and is heavily populated by illegal aliens. A lot of reports of illegal drugs (especially fentanyl), rapes, and child molestation come from that town.
Yes, the story is about GA, bu I was really just trolling Gators fans. (FL)
I assume then he stole them for the heck of it, hoping for ransom money, or he is waiting for some technology, for example, quantum computing. to be able to use them.
Come on they also have one of the best gun stores in Georgia
What kind of illegal aliens? Chinese? Irish? Russian? Albanian? Ecuadorian? Haitian? Salvadoran? Moroccan? Venezualan? Dominican? Canadian?.......
No offense to any I may have left out, I’m just tired of tapping.
“What kind of illegal aliens? Chinese? Irish? Russian? Albanian? Ecuadorian? Haitian? Salvadoran? Moroccan? Venezualan? Dominican? Canadian?......”
____
All of the above plus some.
“Come on they also have one of the best gun stores in Georgia”
They do indeed. And they have some great gun shows at least a couple times a year (or they used to—not sure whether those are still happening).
I think most of the illegals in Gainesville GA are some
version of hispanic. They are there because most industry in
Gainesville involve chicken processing, from what Im told that is a job Americans really don’t want to do.
The U.S. Department of Justice announced this week that authorities raided Zhong’s Gainesville home in November 2021 where they found 50,676 Bitcoin with a value of $3.36 billion at the time.
—
If they wait a few weeks, the bitcoin will only be with about $42.
Bitcoins are considered ‘stolen’ if someone transfers them from a source wallet (the investment company’s wallet) to their own wallet.
Once in the thief’s wallet, he can spend, save, or transfer however he wants.
>>Nothing good can come from Gainesville.<<
Lol...good post.
Who gets to keep the $3 billion? The police?
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