Description
The DOJ charged Zhong with stealing and concealing over half a million dollars worth of bitcoin. In 2012, Zhong admitted to exploiting a bug in Silk Road’s payment system, withdrawing 53,000 bitcoins—worth $620,000 at the time—from the illegal marketplace. Zhong then used a crypto mixer to conceal the funds until his arrest nine years later.
Legal Significance
Zhong was sentenced to 1 year and a day to deter wayward hackers from committing like crimes in the future.
Status
Settled
Case No.
1:22-cr-00606
Date Filed
November 4, 2022
Plaintiff
United States of America
Defendant
James Zhong
Court
USDC Southern District of New York
Plaintiff Counsel
David Russell Felton
Defendant Counsel
Bachner and Associates PCGarland Samuel & Loeb PC
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