CNBC obtained never-before-seen body camera footage that shows how investigators linked Jimmy Zhong to the Silk Road hack
The secret life of Jimmy Zhong, who stole – and lost – more than $3 billion::CNBC obtained never-before-seen body camera footage that shows how investigators linked Jimmy Zhong to the Silk Road hack
But do you really need to pay him anything?
I guess for mentioning the name and I guess that’s a selling point… But not even sure if that’s needed, like if I make a movie about somebody’s life what really need permission for? Their image? I mean if I have somebody different but same story would that count? Idk… I never quite got an idea of exactly up to which point you need to deal with the person of the story or their family
Can someone summarise the story.
God damn that was a long read and lost interest.
What I gathered, Jimmy claimed a robbery of his bitcoins, who then transpired to be the robber?
He stole lots of Bitcoin by hacking silk road. One day someone stole a part of them (20 out of 50000) and he called the police which basically said though luck.
Meanwhile the us government was investigating on the theft and they noticed that he accidentally converted $800 from the stolen $3 billions using his real name.
They showed up at his home really friendly saying they’re investigating about the Bitcoin theft and he opened everything. Unlocked his PC, showed them all the stash, then the liutenant specified which Bitcoin theft was investigating. Officers immediately placed a jigger on the unlocked PC to prevent automatic inactivity lock, guy was arrested.
Unfortunately the guy was one of the og Bitcoin devs in 2009 so he is filthy rich, got one year of prison for the crime of stealing those 3 billion dollars.
The us government said that anyone can ask back the stolen Bitcoin but nobody applied because those were dirty funds coming from the sales of drugs
The gov probably was working in the silk road and wanted their bitcoins back… Very sus investigation especially when no one came to claim the bitcoins…
I don’t see how the IRS had any jurisdiction in this case. Bitcoin is virtual currency which the Federal Reserve does not make. Technically you’d think the IRS could only come after you for physical printed money.
I can understand if they prosecuted him for actual cash they found which he hasn’t paid tax on, but they have no right to take his digital bitcoin.
What are you talking about? IRS comes after you for taxes you don’t pay on property and on all sorts of income. If you have a debt written off, that’s taxable income. If you acquire a hard drive worth $3b, that’s taxable income.
In the end, Zhong didn’t get to keep the stolen bitcoin. The U.S. government seized those assets. Officials opened a process that allowed victims of the hack to apply to get their bitcoin back, according to a forfeiture document CNBC reviewed.
Nobody came forward to claim the loot. That’s not surprising, given that users of Silk Road in 2012 were largely drug dealers and their customers.
This could definitely be a neat movie to watch. Also that PI was a badass. Only one leg and working her ass of on this investigation. Shame they never found the thief that set this all off
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Wonder what job offers awaits this guy once he’s free next year
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He also promoted a trypto scam. Guess some people never change
But do you really need to pay him anything? I guess for mentioning the name and I guess that’s a selling point… But not even sure if that’s needed, like if I make a movie about somebody’s life what really need permission for? Their image? I mean if I have somebody different but same story would that count? Idk… I never quite got an idea of exactly up to which point you need to deal with the person of the story or their family
I still want to see a badass version of the Kim Dotcom whole fiasco
Can someone summarise the story. God damn that was a long read and lost interest. What I gathered, Jimmy claimed a robbery of his bitcoins, who then transpired to be the robber?
You want someone to read the article for you and spoon-fed you the salient points?
Sure, I’ll get right on it.
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Ever heard of a typo? You have a couple of errors in your post too. I’m not going to point them out for you though.
Won’t help but will waste his time on snarky comments, I can tell you enjoy your life 🤣
He stole lots of Bitcoin by hacking silk road. One day someone stole a part of them (20 out of 50000) and he called the police which basically said though luck.
Meanwhile the us government was investigating on the theft and they noticed that he accidentally converted $800 from the stolen $3 billions using his real name.
They showed up at his home really friendly saying they’re investigating about the Bitcoin theft and he opened everything. Unlocked his PC, showed them all the stash, then the liutenant specified which Bitcoin theft was investigating. Officers immediately placed a jigger on the unlocked PC to prevent automatic inactivity lock, guy was arrested.
Unfortunately the guy was one of the og Bitcoin devs in 2009 so he is filthy rich, got one year of prison for the crime of stealing those 3 billion dollars.
The us government said that anyone can ask back the stolen Bitcoin but nobody applied because those were dirty funds coming from the sales of drugs
Thank you 👍
I’d completely forgotten this happened. Wild stuff.
The gov probably was working in the silk road and wanted their bitcoins back… Very sus investigation especially when no one came to claim the bitcoins…
I don’t see how the IRS had any jurisdiction in this case. Bitcoin is virtual currency which the Federal Reserve does not make. Technically you’d think the IRS could only come after you for physical printed money.
I can understand if they prosecuted him for actual cash they found which he hasn’t paid tax on, but they have no right to take his digital bitcoin.
He needed a better lawyer.
What are you talking about? IRS comes after you for taxes you don’t pay on property and on all sorts of income. If you have a debt written off, that’s taxable income. If you acquire a hard drive worth $3b, that’s taxable income.
Hilarious that they even tried
This could definitely be a neat movie to watch. Also that PI was a badass. Only one leg and working her ass of on this investigation. Shame they never found the thief that set this all off