PANews丨APP全面升级|Sep 17, 2026 05:55
Stole 50,000 Bitcoin and hid it for 9 years, only for the private keys to be found in a popcorn tin!
A Reddit user shared an on-chain analysis of the James Zhong case on r/CryptoCurrency. According to their breakdown, Zhong exploited a vulnerability in Silk Road's payment system in 2012 to steal approximately 50,000 BTC, then stayed under the radar for nearly a decade.
In November 2021, the IRS Criminal Investigation team raided his Gainesville residence, recovering around 50,491 BTC (worth approximately $3.36 billion at the time) from a single-board computer hidden in a popcorn tin inside a floor safe and a bathroom closet. They also seized $661,000 in cash and 25 Casascius physical Bitcoins.
The user pointed out that the case was ultimately cracked due to an on-chain mistake—years later, Zhong mixed a wallet address linked to Silk Road with a wallet that had been personally identified in the same transaction. This aggregated transaction became the key to solving the case.
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