Police searching James Zhong’s home found the device hidden in an underground room and a single-board computer hidden in a popcorn box in the bathroom. Cryptocurrencies were stored in it. According to The Mirror, James hacked $3 billion (Rs 279 billion) worth of bitcoins from the Silk Road Marketplace a decade ago.
James was convicted of digital currency fraud after stealing more than 50,000 bitcoins from Silk Road, the US Department of Justice said in a statement. The whereabouts of this large chunk of missing bitcoins has remained a mystery for nearly 10 years. This cryptocurrency was stored by James in his computer.
It is reported that between 2011 and 2013, Silk Road is an illegal market. Bitcoin was mainly used for payment. Its operator was Ross Ulbricht, who was later arrested. He is currently serving a 40-year prison sentence. Silk Road users can anonymously buy and sell illegal goods, including drugs and fake driver’s licenses.