The story of Jimmy Zhong: new details in Silk Road’s stolen BTC mystery unveiled
The story of Jimmy Zhong: new details in Silk Road’s stolen BTC mystery unveiled
Admin 19 Oct, 2023

A new report delves deeper into the life of Jimmy Zhong, shedding light on his involvement in the theft of thousands of Bitcoins from Silk Road.

In 2012, someone stole 50,000 Bitcoins from Silk Road, an illegal online marketplace on the darknet. Since then, the value of the stolen BTC has skyrocketed to over $3 billion. It has remained one of the biggest mysteries in the cryptocurrency world.

However, light has recently been shed on this mystery. Journalists discovered previously unreleased footage that provides a glimpse into the investigating process. CNBC published the story of the life and arrest of Jimmy Zhong and released a new documentary called “Crypto 911: Exposing a Bitcoin Billionaire.”

Who is Jimmy Zhong?

Jimmy Zhong came to study in the United States from China and masqueraded as a wealthy student living near the University of Georgia in Athens, trying not to miss local parties.

In 2012, James Zhong, “Jimmy,” is 22. He is a student at the University of Georgia, the unloved child of a divorced Chinese immigrant couple, suffering from bullying, obesity, an undiagnosed autism spectrum disorder, and drug and alcohol addiction.

On one September day, Jimmy decides to either buy heroin for a successful weekend or quit this thankless task and finally withdraw all the money from the market. Prosecutors and lawyers are divided on the issue, but after double-clicking the withdraw button from his Silk Road account, James suddenly discovers that the system has allowed him to withdraw double the amount of cryptocurrency. An amount that, by definition, was not in his wallet.