So Jimmy Zhong exploited a loophole on Silk Road in 2012 and stole 51,860 bitcoins worth $700k, laundering them through crypto mixers.
With the stolen money, he lived in luxury hotels, shopped at high-end stores, and bought a lake house with boats and jet skis.
Zhong evaded capture until 2019 when he was robbed, leading to the discovery of his stolen bitcoins.
His identity was exposed when he mixed stolen money with funds on a KYC exchange in 2020. In November 2021, the police seized over 50,000 bitcoins from Zhong, stored in a Cheetos popcorn tin and an underground safe, valued at over $3.4 billion at the time.
Zhong was sentenced to one year in prison for his crimes. Not nearly long enough but the takeaway- don't break the law! Show Less
