{"id":9966,"date":"2023-07-05T14:50:12","date_gmt":"2023-07-05T11:50:12","guid":{"rendered":"http:\/\/alssabiqun.com\/?p=9966"},"modified":"2023-07-05T14:50:12","modified_gmt":"2023-07-05T11:50:12","slug":"cops-find-3-billion-in-stolen-bitcoin-stashed-in-a-popcorn-tin","status":"publish","type":"post","link":"https:\/\/alssabiqun.com\/?p=9966","title":{"rendered":"Cops find $3 billion in stolen Bitcoin stashed in a popcorn tin"},"content":{"rendered":"

A man faces up to 20 years in prison after more than $3 billion in stolen was found\u00a0stashed in a popcorn tin at his home in what authorities call the\u00a0second largest seizure of cryptocurrency.<\/p>\n

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James Zhong, 32, pleaded guilty on Friday to stealing the Bitcoin a decade ago from the illegal Silk Road marketplace, which the shut down in 2013.<\/p>\n

The U.S. Department of Justice this week that authorities raided Zhong’s Gainesville home in November 2021 where they found\u00a050,676 Bitcoin with a value of $3.36 billion at the time.\u00a0<\/p>\n

The raid resulted in the second-largest seizure of cryptocurrency, following the $3.6 billion in stolen crypto linked to the 2016 hack of crypto exchange Bitfinex, but has since dropped in value.\u00a0<\/p>\n

Bitcoin hit a two-year low of $15,632. Ether, the next largest cryptocurrency, EVDen eve nAKLiyat<\/a> extended losses on Wednesday to hit its lowest since July.\u00a0<\/p>\n

Zhong pleaded guilty to one count of wire fraud, eVden eVE NaKLiYAt<\/a> which carries a maximum sentence of 20 years in prison. He is scheduled to be sentenced on February 22, 2023.\u00a0<\/p>\n

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James Zhong, 32, of Gainesville, Georgia, pleaded guilty to wire fraud for the theft of $3.36 billion in Bitcoin stolen from the Silk Road dark web internet marketplace back in 2012<\/p>\n<\/div>\n

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Authorities found the stolen Bitcoin\u00a0 and cash hidden in a ‘single board computer’ that was stashed inside a popcorn tin and stored in a bathroom closet at Zhong’s home<\/p>\n<\/div>\n

Lt. Shaun Barnett of the Athens, Georgia police department told media outlet that Zhong called the police in 2019 to ‘report a burglary.’\u00a0<\/p>\n

Zhong was living in Athens, Georgia in 2019 when he called police and evdEn eVe naKliyaT<\/a> reported that he had\u00a0many assets stolen, including ‘a lot of bitcoin,’ which was apparently grabbed the attention of the IRS Criminal Investigation (IRS-CI) unit.<\/span><\/p>\n

The cash was never recovered, nor EvDeN EvE naKLiYAT<\/a> was a suspect identified, but the burglary and amount of money reported stolen ‘raised a red flag with the IRS,’ Barnett said.\u00a0<\/p>\n

Following an investigation, a search warrant was served and the IRS-CI and Athens police department made an arrest in November of 2021.\u00a0<\/p>\n

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