A man faces up to 20 years in prison after more than $3 billion in stolen was found\u00a0stashed in a popcorn tin at his home in what authorities call the\u00a0second largest seizure of cryptocurrency.<\/p>\n
James Zhong, 32, pleaded guilty on Friday to stealing the Bitcoin a decade ago from the illegal Silk Road marketplace, which the shut down in 2013.<\/p>\n
The U.S. Department of Justice this week that authorities raided Zhong’s Gainesville home in November 2021 where they found\u00a050,676 Bitcoin with a value of $3.36 billion at the time.\u00a0<\/p>\n
The raid resulted in the second-largest seizure of cryptocurrency, following the $3.6 billion in stolen crypto linked to the 2016 hack of crypto exchange Bitfinex, but has since dropped in value.\u00a0<\/p>\n
Bitcoin hit a two-year low of $15,632. Ether, the next largest cryptocurrency, extended losses on Wednesday to hit its lowest since July.\u00a0<\/p>\n
Zhong pleaded guilty to one count of wire fraud, which carries a maximum sentence of 20 years in prison. He is scheduled to be sentenced on February 22, 2023.\u00a0<\/p>\n