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Hacker Who Stole 50,000 Bitcoins

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1

According to the US Department of Justice, it seized $3.36bn (PS2.9bn) of Bitcoin in 2017. The Bitcoin was stolen from a darknet website. 

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2

The 50,676 Bitcoin stash was hidden in various devices at a hacker's house in an underfloor safe and inside a popcorn can.

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3

James Zhong pleaded guilty for hacking funds from the Silk Road marketplace in 2012. 

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4

The seizure was the second largest ever made by the US authorities. 

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5

Although the raid on Mr. Zhong's Georgia residence was conducted a year ago, it is only now that it has been revealed.

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6

The seized funds were worth approximately $1.1bn, and it happened when Bitcoin's price soared. 

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7

According to police, Mr. Zhong used a payment system flaw to steal funds from Silk Road. 

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8

He set up several accounts on darknet marketplaces and made a small deposit of Bitcoin to his digital wallets. 

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9

He could quickly withdraw much more significant amounts, which he did not suspect.

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