How To Steal And Lose More Than $3 Billion In Bitcoin | CNBC Documentary

Jimmy, how do you feel after this today? Jimmy, do you feel like the judge was fair today? Why did you steal the money, Jimmy?

A spectacular crime — This is going to be a huge case and there is a lot more money that we don't know about — in a small town. Shocked. I was shocked.

I was so surprised. A 28-year-old secret bitcoin billionaire. His private jets, wild parties and dark secret.

It was just a surreal feeling. And with Jimmy, there were no limits. This is the story of one of the biggest crypto heists of all time.

He's living this party monster lifestyle and with no visible means of support. Right. With clues dating back to the earliest days of Bitcoin itself, in a story that reveals a dark truth about the hackers and coders who created cryptocurrency in the first place, a huge amount of bitcoin is leaking out of the system and you have no idea where it's going.

It's a huge question. And the man who could have gotten away with it, except for one phone call that led to an abrupt end to a nearly decade-long manhunt. Clark County 911, what is your name, sir?

It's Jimmy Zhong, Z-H-O-N-G. They don't get a lot of big-time crime in Athens, Georgia. It's a college town home to the University of Georgia.

So they're used to college town type crimes, bar fights, break ins, that kind of thing. Clark County line911. Hey, I was gone for the past week or so, and someone broke into my house.

And what is your name, sir? It's Jimmy Zhong, Z-H-O-N-G. But this 911 call on the night of March 13th, 2019 is something that Athens has never seen before.

On the phone is 28 year old Jimmy Zhong, a hard-partying University of Georgia graduate and former computer science major. He's reporting a massive theft of cryptocurrency from his modest off campus bungalow. I'm having a panic attack.

Do you need an ambulance? Zhong sounds distressed and a lot of money is missing. If you had an approximate amount to say the total value was of the money?

Probably close to $400,000. But Zhong is sitting on a lot more money than that. And with this phone call, he's taking a huge risk because he has a secret he doesn't want police to learn.

Still, he does want to know who stole from him. And when police can't identify a suspect, Zhong calls local private investigator Robin Martinelli to help him figure out who took all that money. He was very nice and kind, and he had a real problem, so he called me.

He just called you out of the blue? He did. Martinelli starts her investigation at the scene of the crime.

So we were able to see that somebody had gotten in a window and they had actually broke in. Zhong said the thief took $400,000 worth of cash and 150 bitcoins, then worth almost $600,000. It was stashed behind his chimney.

It was well-hidden. And he kept saying over and over that there was only a few friends and a few people that knew he kept cash there. So you put his friends under surveillance?

Most of them, yes. We went into the bar locations, I think we went to some of the houses, spent a lot of time with Jimmy, went through his house, did some social media investigations, did background checks. But one question sticks in her mind.

What are you doing with that much cash? And I asked over and over and he said he had invested it. It made no sense.

And I tell just about everybody before you hire me, I'm married to a cop. My girls are cops. The private eye scours the tapes from Zhong's elaborate home video surveillance systems.

We were able to see that we thought it was a male, kind of thin, and the person knew exactly where to go, like was kind of dodging where the camera might be. So you thought this might be a person who's been here before? Correct.

Yes. So maybe it's a friend of Jimmy's, someone who's worked for him. To Martinelli, it seems Zhong doesn't have many true friends other than his dog, Chad.

So who are his friends? Who is he hanging out with? I remember a female, a couple of males just about his age that were just ne'er-do-wells.

Very casual, plastic, not really caring, maybe using Jimmy a little bit. They were using him? I don't know if they really cared about Jimmy.

Yeah. Did he know that? I don't think he knew that or wanted to know that.

Jimmy wanted to be loved or Jimmy wanted friends. Jimmy was a good guy. Go back a few years and a lot of people in Athens think Zhong is a good guy.

He's throwing a lot of money around. In addition to his bungalow in Athens, he buys himself a home on nearby Lake Lanier. He buys a boat and jet skis and expensive cars.

He was a few years older than us and he just loved to party. Stefana Masic goes to a lot of those parties. She met Zhong while she was a student at the University of Georgia.

He would buy me and my friends drinks, and then there were multiple times, too, where he would buy shots for everyone at the bars. He would buy shots for every single person in the bar. Yeah.

I mean, like, 100 people? Yeah, pretty much. I remember he lent me some money that I needed, and then there was never that expectation that I had to pay it back.

When he was a friend, he was a very generous friend. I would say I came to really enjoy having Jimmy as a friend in my life. In 2018, when Zhong's beloved Georgia Bulldogs make it to the Rose Bowl, he gathers up his party friends, rents a private jet and takes the whole gang to Los Angeles.

We all flew private and Jimmy rented a really nice Airbnb and he got everyone really nice tickets to the game also. He ended up giving everyone a budget and that was very unexpected, you know, just having a friend, giving all his friends that came with him on the trip money to just purchase items on Rodeo Drve. So it was kind of like, am I dreaming?

It was a very crazy moment. I was told it was $10,000 each. Is that right?

Yeah, I think so. It was a number like that. So what did everybody buy?

Everyone went to the Cartier store first and then just bought a lot of purses, belts, jewelry, coats, stuff like that. It was pretty wild. I mean, that doesn't happen every day.

More than a year after the Rodeo Drve shopping spree, Athens police are trying to find out who stole hundreds of thousands of dollars from Zhong's house. Lieutenant Jody Thompson of the Athens-clarke County Police Department leads the local property and financial crimes unit. He says Zhong has an elaborate security system.

Cameras bristling at the door and on the roof of his home. And whenever there's a crime, Zhong is happy to share video evidence with Athens PD. So we would have break-ins, we would have DUIs, you would have accidents.

And Jimmy was always there to help you guys out? Always, always. But Zhong also has a criminal history of his own, including a DUI and a bizarre incident a few years earlier.

So Jimmy was in a restaurant talking to some girls, and he happens to mention that he has $30,000 worth of blow at his house if they want to come back and party. $30,000 worth of coke? $30,000 of cocaine.

Unfortunately for Jimmy, there was an off duty police officer sitting in the restaurant one table over. That's just bad timing. It was really bad timing.

So with a quick phone call, there was other officers who arrived and he was arrested, actually found some drugs on him. And he got a couple of felony charges from that. So he's drunk and disorderly.

He's busted for coke possession. He's bragging to girls in bars. I mean, the guy sounds like his life was a little bit out of control.

I think it was. I think Jimmy was always looking for more. He was looking for a friend.

I think a lot of people took advantage of that. And I feel bad for him on that because he was so naive. Zhong says he spent a significant portion of his wealth partying.

Jimmy, admittedly, I've spoken to him a few times since, probably spent about half a million dollars just in partying downtown. Half a million dollars in bar tabs? That's what he estimated.

Yes. He said he spent a lot of money having a good time. He's living this party monster lifestyle and with no visible means of support.

Right. And he said he just invested in bitcoin and made his money and, you know. And you had no reason to doubt that?

No reason to doubt it. But that changes when the police investigator gets a call from agents at the IRS. So this is the fall of the 40,000 bitcoin as it came out of the Silk Road.

Across the country, a crack team of IRS criminal investigators specializing in cryptocurrency has spent years tracking the 2012 hack of a criminal dark web marketplace called The Silk Road. Someone stole 50,000 bitcoins from the drug dealers, gun runners and pornographers who used that site. As the price of the bitcoins explodes over the next years, the value of that astonishing heist climbs to more than $3 billion.

They asked me about the bitcoin and how much was in there and if he talked about where he got it from or anything like that. And I really didn't have the answers for him. But I told him, let me email him and I'm sure Jimmy will meet with us.

Zhong quickly agrees to meet the agents and when they arrive at his lakefront home, Thompson's body camera is rolling. Hey, Jimmy. How are you?

Hey, you remember me? The agents go inside Zhong's bizarre world and learn more about who they're dealing with. I mean, I've always been on the computer guy.

I've always been just that kind of thing. In Athens, Georgia, someone has stolen hundreds of thousands of dollars in cryptocurrency from local party boy Jimmy Zhong. But investigators who looked into that crime get a call out of the blue from armed federal agents of the IRS.

Typically, when we deal with larger enforcement agencies, we don't ask a lot of questions about their investigation. Thompson suddenly finds himself going to Zhong's home with two highly skilled cryptocurrency investigators a federal agent and a contractor working for the U. S.

government. Hey, Jimmy. My name is Trevor McAleenan and I'm a special agent with the IRS Criminal investigation.

My name is Shaun MaGruder. I'm the founder and CEO of BlockTrace. BlockTrace is a company that investigates cryptocurrencies on the blockchain.

The IRS hired MaGruder for his experience untangling complicated transactions. He's been looking into a massive heist from a dark web site called The Silk Road for years. Well, Silk Road is a very unique marketplace where users could deposit bitcoins on this exchanger, so to speak, and where they could then purchase goods, services, cocaine, weapons.

All the bad guy stuff. All the bad guy stuff. Right.

And people thought this was a private transaction and they could just get away with it. They thought that. So the beautiful thing about the blockchain is that all transactions are preserved, going back to 2009 when Bitcoin was first launched.

So all those criminals were just dead wrong. It wasn't private. It wasn't private, right?

It wasn't private at all. In 2012, somebody steals 50,000 bitcoins from that criminal exchange and federal agents begin to try to figure out who dunnit. A lead in the case doesn't come until six years later when MaGruder finds a clue that points to Zhong.

One of the special agents who I worked with on the team calls me and says, Hey, Shaun,' you know, 'can you help out and assist with this? If you just take a look at it over the course of the weekend. That'd be great.

And this was on a Friday. By Monday, I came back with an answer and I said, Hey, I think we might have something here. And so we noticed some activity that was standing out to us.

What was it? What was it? Great question.

It's a good question. Are you allowed to say? That is a sort of sensitive law enforcement technique.

You can't talk about it publicly. Not that specific technique. But you realize that there were some clues here that you would be able to follow.

Right. Absolutely. And then Zhong makes a big mistake with a relatively small amount of money.

Zhong transfers around $800 worth of bitcoin to an exchange that has a policy called Know Your Customer, which is referred to as KYC. The policy requires anyone who sends or buys cryptocurrency from the exchange to provide their name and identifying information. So after issuing a subpoena to that KYC exchange, we had a positive ID on Jimmy.

Because of the subpoena, the exchange has to tell you the name of the person. That's correct. And did he use his real name?

He did. Investigators follow that trail of clues right to Zhong's home, the three men come up with a plan to go see Zhong, telling him they're there to investigate the crime against him, never mentioning they're also there to investigate something else. A much bigger crime.

And this never before seen police body cam video shows the moment in real time. Zhong, without hesitation, lets the investigators right in. Hey, this is Trevor and Shaun.

We went to the door under the premise that these two guys, Shaun and Trevor, were going to be assisting me with the investigation into recovering his bitcoin that was stolen. Yeah, these guys are going to kind of help me out a little bit because we would get more of the cases, kind of like what you have. Really?

You know, watching that tape, it's almost like he was just desperate for someone to talk to. I think that might be another side of Jimmy that no one really knew about, too, is the loneliness of being that wealthy and not having anybody to share it with. And you guys walk in the door and start talking to him and here he opens up.

He did. You guys get this solved? I would invite you all up for a beer whenever you want.

All right. I kept again complimenting his house. This is so beautiful.

Talk about his dog. Beautiful dog. Anything we could do to keep him talking.

And as he becomes more and more comfortable, eventually I was – I asked, Jimmy, show us around. Let's see the whole house. He'll show us.

Yeah, let's see. There's an L-shaped couch. There's slider doors to the right.

There's a TV on the wall. There's what appears to be a firearm of some sort over the slider door, which we would later learn was a flamethrower. He had a flamethrower in the house?

He did have a flamethrower. Are you doing your own floors? What are you doing?

That's leftover from. This is the concrete tile? You do this job for a while and you start – you notice things in homes and you, you think, I could hide something there.

So were you looking for secret compartments as you went around the house? Yes. It's just kind of the part of the process.

We went upstairs and on my way to the room, all three of us with the Athens PD and IRS-CI. We saw the AR-15 on the wall. Yeah, it looks beautiful, man.

When you see the AR-15 in the house, do you feel like this guy could be dangerous? Yeah, of course. I mean, if you, if you see an AR-15 with a magazine in it, hanging on the wall, not in any way, shape or form locked or bolted and ready to go, I mean that poses a security threat.

Armed or not, they have to get Zhong talking. Okay. So, I guess kind of a personal question, how did you acquire the money?

I don't even know what you do, Jimmy. I mean, in these days, I'm in real estate development. I'm the funding.

Zhong shows the investigators a suitcase he used to store $1 million in cash. That's the exact case. Is that a ZERO Halliburton or is that a Samsonite?

It's a random Amazon case. You know, it was probably to impress this girl back then. I was like, impress me.

You're impressing us. Let's try to pull out $1 million cash and have it in this aluminum briefcase and just like. You know, I wanted to impress her back then.

Did it work? Nope. That never does.

It never does. We eventually went downstairs, saw they had like a party pad built with a stripper pole in the middle and a full bar. Is this your workout?

Nope. That's for the girls. Okay.

Nice. You don't see that too often. You don't see that very often at all.

But in behind that bar was a whole 'nother room of computer servers that he had built out. So I ran CAT6 everywhere. Well, that was a good opportunity.

That's awesome. That's amazing. Wow.

Next, they ask Zhong about his history with bitcoin and Zhong reveals his involvement with crypto goes all the way back to 2009, which is the same year Bitcoin was first launched. When did you first dive in? Huh?

When did you first, like 2009? Investigators begin to see Zhong's level of sophistication. This is like, so foreign to me.

Bitcoin-mining chips. Oh, I'm just thinking chips. I wasn't thinking.

Oh. I mean, the individual chips have to be assembled into something. They continue to probe getting Zhong to explain his security system.

It's like 30 seconds, regular sirens goes off. So did you do that in your— 40 seconds, that goes off. Wow.

And that will make your head pound. But the most important thing is they have to get Zhong to open his laptop. Oh, yeah, many.

Did you guys look away? Because this is going to be my password. Okay.

I'm just watching. It's like you're typing a sentence over there. Oh, wait, that's — that's why.

So is this, like, the equivalent of your hot wallet? Where you say you have — this is your play money? This is the hot wallet, it's the – and then the cold wallet is – I'm not gonna tell y'all where it is.

That's on camera. I don't even know – Oh, no – if that leaks around the department or something. No, I don't – Investigators see the evidence they need when he opens the laptop.

A wallet filled with an enormous number of bitcoins. So in the day of the video that we see, you walk out of the house, the three of you are leaving and we see you go out to the driveway. What are you thinking the moment you walk out that door?

This is incredible. I think we found our guy. Jimmy, pleasure to meet you, man.

No problem. After the house tour, the federal agents decide they have enough. Evidence ties Zhong to the 2012 Silk Road hack.

It's all about to come crashing down for Zhong, and it's all because he called 911 to report that someone had stolen some of his stolen loot. If he hadn't done that, would he still be living large in private jets? I believe he would.

He's sitting on what would be $3 billion worth of stolen assets, and he calls the cops to report a theft of just a fraction of that. Who does that? Jimmy.

As they dig into Zhong's story, agents begin to suspect that Zhong's skills are proof that he's more than just a typical hacker. You don't have to answer. How OG are you?

I don't have vast majority of them anymore, but I mined at least 300,000. Wow. Blew them all downtown drinking in Athens.

Over the years, the Bitcoin stolen from the Silk Road dark web site in 2012 has skyrocketed in value to $3. 36 billion. Investigators hunting for the hacker use a ruse to get into Jimmy Zhong's home and get him to open his laptop.

But you don't even have just, like, one Bitcoin laying around? Oh, I mean, 1,500 on that laptop alone. Oh.

When you're sitting next to him on the couch, he opens his laptop. What do you see on that screen? Lo and behold, he had $60 or $70 million worth of bitcoins right there next to us.

So with one glance at the screen on his laptop, you could instantly tell this is a guy who's a credible suspect. He could have pulled this off. That's right.

No cameas are rolling the day investigators returned to Zhong's house to execute a search warrant for the 50,000 stolen bitcoins. But it's a huge law enforcement operation, and one thing is critical for the mission's success. They have to get inside Zhong's laptop.

When I did the search warrant briefings with all the agents out of the Atlanta field office, it's a hard sell to say, Hey, we're going to hit someone's house tomorrow. Multiple locations. Oh, by the way, you may or may not be familiar with Bitcoin and cryptocurrency, but there's a chance that this person sits on somewhere around $3 billion in cryptocurrency, 50,000 bitcoin, and you kind of get this look of like, Is this guy from another planet?

We met at a parking lot where I saw a lot of law enforcement and I was like, Oh, okay, I see what we're doing now. We're going to be doing a search warrant today. After we had that rehearsal of how the search warrant would go, me, the original Athens PD detective and two special agents visit Jimmy.

They tell Zhong that in order to help with his stolen bitcoin case, they needed to verify information on his computer. So you go in and it's still under the pretext that you're there to help him. That's right.

I brought Chad a dog toy to play with to keep him pacified and make sure that he was out of harm's way. And we entered Jimmy's house. McAleenan is about to finally tell Zhong the truth.

Investigators are not there to help solve the crime against him. They're there to search his house for evidence of the $3 billion heist. We start doing our thing, walking through the transactions, you know, getting him to open up his computer.

So you have to have that computer open, unlocked, passwords entered and then Jimmy physically away from it so you can grab it before it locks itself. That was the goal. And I start to draw Jimmy's attention away from his laptop.

I asked him if we could take a look on his back balcony over the lake. So he asked Zhong to step across the room and help open the sticky sliding glass door. Jimmy got up, started walking to the slider glass and my co-case stuck what's called a jiggler in the computer, which causes the mouse to move around the screen so that it doesn't lock.

We stepped outside my co-case came outside on the patio with us, and just like in movies circumstances, you know, Jimmy sitting on the back porch, we're like, Oh, this is an amazing view. And Jimmy's looking at me. And I said, Jimmy, you know me as Trevor.

I'm actually Trevor Macklin and a special agent with IRS criminal investigation. And we're here to execute a federal approved warrant on your house. And he kind of had this look like, am I being punked?

Right. It's at that point where literally in movie time, the search warrant team hit the house. Knocked, pounding on the door.

Police with a warrant flooded the house and you could see the panic start to ensue in his mind. So that's the first moment where it flipped for him. Yeah.

And you were able to take advantage of that one minute where he was away from the computer to grab it and keep it open. Yeah. Officers swarmed through the house looking for evidence.

Zhong's neighbor, Walt Frayser, was there the day it happened. I – I didn't know what to think. I mean, I'd never seen that many police anywhere in my walk of life.

And then all in my front yard and I went, Holy cow. Upstairs in the bathroom closet, off to the side of the roof was, in fact, a popcorn tin. And in that popcorn tin were some towels, which starts to dry your interest as to why you would possess a popcorn tin with towels in it.

So then one of the searchers started pulling apart the different towels and found the single board computer. Later, we were able to discern with Jimmy's assistance that that possessed a ton of the bitcoin, millions of dollars. Millions of dollars.

Using a dog specifically trained to sniff for computer hardware, they find a safe buried in concrete underneath some basement flooring tile. In that safe, we found bitcoin, we found a wallet that had the addresses previously that were associated with the 50,000. They also find physical bitcoins that were minted in cryptocurrency's early years, precious metals and old-fashioned paper currency.

November 9th, really late at night we were able to say we were successful. We found the evidence that we were looking for and the house lit up. I mean, every agent on site cheered.

After the cheering dies down. Investigators also realize that Zhng was more than an ordinary criminal hacker. The IRS concluded that Zhong was what's known as a bitcoin OG, slang for original gangster, one of the early developers who drove the rise of cryptocurrency.

So he contributed to the code. He would constantly offer up suggestions on how to improve it. But Zhong said it wasn't his coding skills that allowed him to steal the bitcoin from the Silk Road.

In his plea statement, Zhong said he stumbled across the flaw accidentally. In his statement, Jimmy says that the way he stole these bitcoin was he was withdrawing some assets from Silk Road. He had been using it to purchase cocaine and he realized if he simply double clicked, he could withdraw more than he had put in.

Is that what happened? To the instance that he would just double click the withdrawal button? We don't know the answer to that question.

I mean, that seems awfully simple. Yeah, but what gets a little bit more complicated is, what we were able to discern with monikers that Jimmy had used, that he knew exactly how much was in the hot wallet of the Silk Road in September of 2012. So in that instance, he knew when he stole 50,000 bitcoin from the Silk Road, he knew exactly what the max was that he could get away with.

And he hit that max. Yeah. Zhong says his skills also impressed somebody else.

Ross Ulbricht, the man who created the Silk Road site that Zhong attacked. Online, Ulbricht went by the moniker Drad Pirate Roberts, and, according to Zhong, Ulbricht, agreed to simply give Zhong the bitcoins he stole, plus 5000 more as a reward. Jimmy and the Drad Pirate Roberts were in contact with each other.

Right? That's as Jimmy alleges it. We couldn't find any evidence to support that position.

Why would the Drad Pirate Roberts pay Jimmy a reward for stealing from the Drad Pirate Roberts? That doesn't make any sense to me. Our understanding was that that was in response to helping him fix an error with the Silk Road payment processing system.

So the idea is that Jimmy exposed a flaw and exploited it to to steal the money. And then he sort of sold that flaw back to the Drad Pirate Roberts and said, I'll explain to you how I did it if you let me keep the money? Yeah.

Court documents state, after the hack, Zhong used "sophisticated laundering" techniques to use stolen bitcoin for lavish trips and real estate investments. So he took advantage of bitcoin mixing services out there that would mix his transactions with other people's transactions and then come out the other end, right? Where they would be clean, so to speak.

In the end, though, Zhong didn't get to keep the money. After the U. S.

government confiscated the assets, victims had the opportunity to come forward and claim their bitcoin, but nobody did. Which isn't surprising given that the Silk Road was an exchange for criminal activity and the feds sold off Zhong's bitcoin. Tyler Hatcher is the special agent in charge of the Los Angeles field office for IRS Criminal Investigation.

So Jimmy stole the money, but the U. S. government is going to get to keep it?

Correct. There's some irony there, right? There is some irony there.

Yeah. When you think about this case, you had a hacker stealing from the Silk Road and the clients of the Silk Road were just awful people, right? I mean, you had drug dealers, gun runners, all kinds of bad guys on there.

The victim here is another set of criminals, so it's hard to have sympathy for anybody involved in that case. How do you approach a case like that? You know, there's that saying, there's no honor among thieves, right?

So when we talk about illicit funds that are out there, the last thing we want is any criminal being able to spend it. Right? That's why we have jobs.

That's why we look for these opportunities. Hatcher says some of it will likely go to the local police department in Athens. The government certainly has not been hurt by Jimmy's conduct whatsoever.

Michael Bachner is Zhong's attorney for this case. If Jimmy had not stolen the coins and the government had, in fact, seized them from Ulbricht, they would have sold them two years later in 2014, as they did with other coins and would have gotten $320 a coin or made somewhere about $14 million. Now, as a result of Jimmy having them, the government has gotten a $3 billion profit.

Bachner says, at the time Zhong stole the coins, he did not believe he was committing a federal crime. Bitcoin, back then, was very much like the Wild West. The coins had sometimes no value or such a fluctuating value.

At sentencing, Buckner described the abuse Zhong faced from the other kids at school. He's on the spectrum for autism. He was subject to consistent, unabated abuse, which included randomly being punched in the face for no reason.

He would go to school, do very well in school because he was really smart and then go home, lock himself in his room, or go to his room and be on his computer. Nathaniel Popper is the author of Digital Gold, which chronicles the history of bitcoin. He says a hacker culture ran through the early bitcoin community.

You have to see if you can break the system to figure out how it doesn't work. So when the system broke, it was viewed as an opportunity to learn from it, to figure out how can we strengthen this for the future? If we want this to work in the long run, we need to repair the little leaks in it.

There's this strange way in the Bitcoin story where everybody who played a significant role is both a villain and a hero at the same time. And that conflict, that tension is there in Silk Road. And I think it's also there in Jimmy's story.

Zhong pled guilty to one count of wire fraud. No friends or family were present for Zhong's sentencing, but he received a half dozen letters of support from friends, one of whom said, My heart goes out to Jimmy because all he wants in this life is to love others and for others to love him. In a tearful statement, Zhong said the bitcoin made him feel important and worth something and asked for no jail time so he could take care of his closest remaining friend, his dog, Chad.

Chad and Jimmy have an extremely close, loving relationship. Chad is 13 years old now and sick, has a feeding tube, and Jimmy spends time and effort caring for him. I think he was stuck.

He he didn't talk to his family that I knew of. So I don't know of anybody he'd been close to but his dog, Chad. His dog.

Yeah. That's it. Yeah, his dog Chad.

I think he just wanted to have a lot of fun and maybe outsmart having a traditional life. On April 14th, the verdict came down. We waited outside the courtroom during Zhong's two-hour sentencing.

Here he comes. Here he comes. In which he received a year and a day in prison for his role in the Silk Road hack.

Jimmy, how do you feel after this today? Why'd you steal the money, Jimmy? Did you think you were going to get away with it?

Anything else to say, Jimmy?