Silk Road thief sentenced to one year in prison for $3.4B Bitcoin theft

James Zhong, who stole over 50,000 Bitcoin from the Silk Road drug-trafficking site in 2012, was sentenced to a year and a day in prison after the value of the stolen Bitcoin hit $3.35 billion. Zhong spent $16 million of the proceeds on real estate investments, luxury hotels, nightclubs, and Lamborghinis. The value of the Bitcoin seized is now about $1.56 billion. Zhong pleaded guilty to wire fraud last year and expressed "shame and remorse" in court.