Silk Road's 50,000 Bitcoin Thief Apprehended After Years of Investigation

According to CryptoPotato, James Zhong, who stole 50,000 bitcoins (BTC) from the dark web marketplace Silk Road in 2012, was apprehended two years later. Zhong was a computer expert who lived a luxurious life, driving expensive cars, staying at fancy hotels, and owning multiple properties. In 2019, Zhong called the Athens-Clarke County Police Department to report a break-in at his home, during which 150 BTC were stolen. This was the police department's first crypto case, and no progress was made due to their unfamiliarity with the sector.Zhong then hired local private investigator Robin Martinelli, who suspected one of his friends was responsible for the theft. Meanwhile, agents from the Internal Revenue Service Criminal Investigation unit were attempting to solve the Silk Road 2012 theft. Blockchain analytics company Chainalysis spotted a mistake Zhong made while transferring funds, which led to the discovery of his involvement in the Silk Road theft.The IRS and Athens-Clarke County Police Department joined forces to investigate Zhong, eventually finding enough evidence to arrest him. Zhong was convicted and is currently serving a one-year sentence at the federal prison camp in Montgomery, Alabama. US authorities are selling the stolen assets as their owners have refused to claim them.