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Bitcoin Thieves Sentenced to Prison for Massive Heist

1 min read
Source: Benzinga
Bitcoin Thieves Sentenced to Prison for Massive Heist
Photo: Benzinga
TL;DR

James Zhong, the hacker responsible for the Silk Road marketplace breach, has been sentenced to a year in prison for wire fraud charges. Zhong stole over 50,000 Bitcoin from Silk Road by creating multiple accounts and misleading Silk Road into releasing Bitcoin into his accounts. Authorities searched Zhong's home in Georgia and recovered over 50,000 Bitcoin, gold and silver bars, and more than $660,000 in cash. When the Bitcoin was seized, it was valued at $3.4 billion. Today, it is worth more than $1.5 billion.

Topics:businesscrime#bitcoin#crime#hacker#prison#silk-road#wire-fraud
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  1. Man Gets Prison Time After Feds Discover $3.4B In Stolen Bitcoin Hidden Inside Cheetos Popcorn Tin  Benzinga
  2. Silk Road Hacker Sentenced to a Year in Prison for Wire Fraud – Bitcoin News  Bitcoin News
  3. Man Sentenced to Prison for Stealing Bitcoin from Silk Road  Blockchain.News
  4. Silk Road Bitcoin Thief, Once Worth $3.4 Billion, Receives One-Year Prison Sentence  Cryptonews
  5. Man gets prison time after feds discover $3.4 billion in stolen Bitcoin hidden inside a Cheetos popcorn tin and underground safe  msnNOW

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