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{"id":73132,"date":"2023-05-22T17:23:53","date_gmt":"2023-05-22T17:23:53","guid":{"rendered":"https:\/\/www.announcement.news\/?p=73132"},"modified":"2023-05-22T17:23:53","modified_gmt":"2023-05-22T17:23:53","slug":"cops-find-3-billion-in-stolen-bitcoin-stashed-in-a-popcorn-tin-18","status":"publish","type":"post","link":"https:\/\/www.announcement.news\/cops-find-3-billion-in-stolen-bitcoin-stashed-in-a-popcorn-tin-18\/","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
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, extended losses on Wednesday to hit its lowest since July.\u00a0<\/p>\n
Zhong pleaded guilty to one count of wire fraud, which carries a maximum sentence of 20 years in prison. He is scheduled to be sentenced on February 22, 2023.\u00a0<\/p>\n