US man jailed for a year for swindling 50,000 BTC on Silk Road
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Judge Paul G. Gardef sentenced Georgia resident James Zhong to 1 year and 1 day in prison for stealing 50,000 BTC from the Silk Road darknet marketplace.
In September 2012, he implemented a fraudulent scheme using fake accounts, without displaying or buying any goods or services on the site.
Zhong made deposits ranging from 200 to 2000 BTC, after which he made quick withdrawals in multiples. He initiated more than 140 such transactions, which in total brought the convict 50,000 BTC.
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