Once stolen from SilkRoad, now being claimed by the feds. Amazing how much value it lost while in process. Once worth over $3.3B it is now valued $1B. Dude ahs been sitting in Gainesville Ga with billions in bitcoin hidden on a laptop in a popcorn tin kept in a bathroom closet. WTH? Why didn't he liquidate and disappear? 22 and hit the jackpot for 50k bitcoins and unsolved for 10 years...hanging in Gainesville Georgia. don't recall hearing about his bust U.S. lays claim to $1 billion in stolen Silk Road Bitcoin | Reuters The United States is seeking the forfeiture of more than $1 billion in Bitcoin stolen from the Silk Road online marketplace, federal prosecutors in Manhattan said on Monday. In the second largest seizure in U.S. Department of Justice history, Internal Revenue Service (IRS) agents obtained the 50,000 Bitcoin during a November 2021 search of the defendant James Zhong's home in Gainesville, Georgia. Zhong, 32, on Friday pleaded guilty to wire fraud for tricking Silk Road's processing system into releasing the funds to his accounts in 2012. ........... "Mr. Zhong is extremely remorseful for his conduct that occurred over 10 years ago when he was just 22," Bachner said in a statement.
Everything about bitcoin makes me wonder. It’s supposed to be secure but billions reportedly get stolen. It is based on nothing but complex math that quantum computers are able to figure out easy. Why would anyone put anything into them.
Shhh. That's a secret. One has to keep in mind Silk Road is the first modern dark market. One has to keep in mind Governments are not immune to nefarious deeds and a reasoned argument could be made that Silk Road still exists for this very purpose.
