Over $1B worth of stolen Bitcoin found in popcorn tin

South Africa News News

Over $1B worth of stolen Bitcoin found in popcorn tin
South Africa Latest News,South Africa Headlines
  • 📰 pcgamer
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 67%

Good idea to check your popcorn tins I guess.

Zhong committed the crime back in September 2012, when he set up multiple accounts on the website and deposited small amounts of Bitcoin. He then used the exploit to withdraw large sums of Bitcoin quickly from the website. These were then apparently stored in weird places around his home on devices and drives, alongside over $600,000 USD worth of cold hard cash.

For many years the over 50,000 Bitcoin stolen had seemed to just disappear into the ether. While it may only be worth about $1.1bn USD now as opposed to $3.36, that's still a huge chunk of crypto to just stop existing for nearly ten years, which became a bit of a mystery. While the authorities aren't revealing exactly how they found the money, it's said that cryptocurrency tracking techniques were used to track down the haul. While it might have taken ten years to get to the bottom of it, seeing that money recovered might be a bit of a wake up call for other crypto criminals out there. Especially with Zhong looking to face up to 20 years in prison for his crime.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

pcgamer /  🏆 38. in UK

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Feds find over $1b Silk Road BTC in popcorn tin, hidden safeFeds find over $1b Silk Road BTC in popcorn tin, hidden safeFeds find Silk Road thief's $1b+ Bitcoin stash in popcorn tin, hidden safe
Read more »

Stolen $3bn Bitcoin mystery ends with popcorn tin discoveryStolen $3bn Bitcoin mystery ends with popcorn tin discoveryJames Zhong pleads guilty to the 2012 hack as police find stash of 50,000 Bitcoin.
Read more »

I opened the 'most impressive' M&S advent calendar worth £300I opened the 'most impressive' M&S advent calendar worth £300It includes 25 luxury beauty products and you can get it for £40 when you spend £30 on clothing, homeware and beauty
Read more »

We tried budget instant porridge from Asda, Aldi, Lidl, Morrisons and SainsburysWe tried budget instant porridge from Asda, Aldi, Lidl, Morrisons and SainsburysWe tried budget instant porridge from Asda, Aldi, Lidl, Morrisons and Sainsburys to see how they compared
Read more »

How and when to apply for £150 Warm Home Discount Scheme this winterHow and when to apply for £150 Warm Home Discount Scheme this winterThe Warm Home Discount Scheme is a one-off discount on your electricity bill worth £150
Read more »

Double cleansing is the secret to better skin. Here's how to do it properlyDouble cleansing is the secret to better skin. Here's how to do it properlyCan all skin types benefit from a double cleanse?
Read more »



Render Time: 2025-03-07 03:37:13