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Author Topic: [2023-04-18] Daily Mail: Bitcoin scammer admits to using money and stolen gains  (Read 139 times)
pawel7777 (OP)
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April 18, 2023, 08:02:29 PM
 #1


Bitcoin scammer admits to using money and stolen gains to impress women as he's sentenced to a year

https://www.dailymail.co.uk/news/article-11985885/Bitcoin-scammer-admits-using-money-stolen-gains-impress-women-hes-sentenced-year.html

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Geeky crypto thief, 32, jailed for hiding $3billion in Bitcoin in popcorn tin admitted to trying to use the cash to score women - as government offloads stolen gains on Coinbase
- James Zhong, 32, of Gainesville, Georgia, was sentenced to a year and a day in prison on Friday on wire fraud charges for stealing $3.36billion in Bitcoin
- Zhong converted $700,000 to cash and hoped 'the visual appeal of the cash would impress a female into having sexual relations with him,' prosecutors said
- DailyMail.com can reveal the government was ordered to liquidate the stolen gains and has been offloading it through Coinbase

The geeky Georgia crypto scammer who was found hiding $3billion in Bitcoin in a popcorn tin, admitted to trying to use the appeal of cash and a lavish lifestyle to help him score women as he was sentenced to one year behind bars.

James Zhong, 32, of Gainsville, pleaded guilty to wire fraud last year for illegally obtaining over 50,000 Bitcoin from the now-defunct Silk Road marketplace over a decade ago. He was sentenced to a year and a day in federal prison on Friday by a judge in New York.

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Nwada001
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April 18, 2023, 08:30:10 PM
 #2

The funds that were recovered from him by the Fed, what will they do with them since they must have known the sources of those funds where he moved them from, and will it not be wise enough for them to return it back to the victims? All they will do is withhold it all, all in the name of evidence and whatever else they might tag it as, which on later days they will sell it off at auction since that's what they do?

And linking Coinbase to the incident, will the government again open an investigation against Coinbase, allowing a stolen fund to be deposited and traded on their exchange? 
Just my questions out of curiosity 

 
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MainIbem
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April 18, 2023, 09:42:12 PM
 #3

What would be his gain trying to impress woman with money and now she has declined with such offer. Just the previous user said, what would they used those recovered funds to and will it be returned to exchange the funds automatically gone to Federal government account?
And if the money gets to them meaning they are also taking laws into their hands since they don't legalized crypto in such country and wanting freeze funds from cryptocurrency.

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Kakmakr
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April 19, 2023, 05:47:40 AM
 #4

This is a very interesting case, because James Zhong stole bitcoins from Silkroad and now he is being charged with criminal offenses, because he stole from a site that was involved in crime.  Tongue

A lot of these guys make the same mistakes by drawing too much attention to themselves, when they start flashing the proceeds of their crime. He also kept the stolen stash close to home, so they just raided his property and found all the coins that he stole.... so all the evidence are centered in one place.  Roll Eyes

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pawel7777 (OP)
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April 19, 2023, 08:59:33 PM
 #5

A lot of these guys make the same mistakes by drawing too much attention to themselves, when they start flashing the proceeds of their crime. He also kept the stolen stash close to home, so they just raided his property and found all the coins that he stole.... so all the evidence are centered in one place.  Roll Eyes

There was no way he could lounder a huge amount like $3 billions, especially when he's autistic with no social calibration. Per article, he cashed out $700k just to have a pile of cash "like in movies". He was doomed to fail.

Funnily enough, he was involved in Bitcoin since early days, so if he just bought some (with the money he was spending on coke and booze) and hold, he could be rich and his wealth would be legit.

Anyhow, since this story is pretty interesting and Press board is not really meant for discussions, here's the topic on the main board: https://bitcointalk.org/index.php?topic=5449502.0

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TRY OUR UNIQUE GAMES!
    ◥ DICE  ◥ MINES  ◥ PLINKO  ◥ DUEL POKER  ◥ DICE DUELS   
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