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THE #MENINO WHO STOLE 50,000 #BITCOINS AND LOST EVERYTHING OVER $200
In 2012, James Zhong was 22 years old and found a flaw in Silk Road, the biggest dark web marketplace.
He would deposit 500 $BTC and request 5 withdrawals at the same time. The system glitched and paid out 5 times.
He repeated this until he had stolen 50,000 BTC. At the time, they were worth $600,000.
He hid everything in 2 wallets and kept quiet for 10 YEARS.
During that time, the 50,000 BTC turned into BILLIONS.
He didn’t buy a car, didn’t buy a house, didn’t do anything. He stayed invisible.
Until, in 2019, he made ONE mistake: he sent $200 to an exchange under his own name.
That was enough. The blockchain linked his name to the stolen coins.
In 2021, the police raided his house and found the keys in a popcorn tin in the bathroom.
The result: 1 year and 1 day in prison. He lost everything.
The moral of the story: You can fool the system for 10 years, but the blockchain never forgets. It just waits for your smallest mistake.
Share 🙏
THE #MENINO WHO STOLE 50,000 #BITCOINS AND LOST EVERYTHING OVER $200
In 2012, James Zhong was 22 years old and found a flaw in Silk Road, the biggest dark web marketplace.
He would deposit 500 $BTC and request 5 withdrawals at the same time. The system glitched and paid out 5 times.
He repeated this until he had stolen 50,000 BTC. At the time, they were worth $600,000.
He hid everything in 2 wallets and kept quiet for 10 YEARS.
During that time, the 50,000 BTC turned into BILLIONS.
He didn’t buy a car, didn’t buy a house, didn’t do anything. He stayed invisible.
Until, in 2019, he made ONE mistake: he sent $200 to an exchange under his own name.
That was enough. The blockchain linked his name to the stolen coins.
In 2021, the police raided his house and found the keys in a popcorn tin in the bathroom.
The result: 1 year and 1 day in prison. He lost everything.
The moral of the story: You can fool the system for 10 years, but the blockchain never forgets. It just waits for your smallest mistake.
Share 🙏
In 2012, James Zhong was 22 years old and found a flaw in Silk Road, the biggest dark web marketplace.
He would deposit 500 $BTC and request 5 withdrawals at the same time. The system glitched and paid out 5 times.
He repeated this until he had stolen 50,000 BTC. At the time, they were worth $600,000.
He hid everything in 2 wallets and kept quiet for 10 YEARS.
During that time, the 50,000 BTC turned into BILLIONS.
He didn’t buy a car, didn’t buy a house, didn’t do anything. He stayed invisible.
Until, in 2019, he made ONE mistake: he sent $200 to an exchange under his own name.
That was enough. The blockchain linked his name to the stolen coins.
In 2021, the police raided his house and found the keys in a popcorn tin in the bathroom.
The result: 1 year and 1 day in prison. He lost everything.
The moral of the story: You can fool the system for 10 years, but the blockchain never forgets. It just waits for your smallest mistake.
Share 🙏
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