I fell asleep in classes today, not just one but all of them. It’s okay. I just need to catch up on my sleep one way or another. And because my life was just a regular Tuesday, so I’m going to write about this money article of a Silk Road hacker who illegally got about 50,676.17 Bitcoin in 2012. He stashed them away on a single-board computer in his basement in Georgia. That wasn’t all – law enforcement also recovered more than 650K in cash, 25 Cascacius coins, along with valuable metals.
In 2012, Silk Road was the go-to online marketplace for drugs and unethical goods and BTC was their main form of payment. The site was shut down when administrator Ross Ulbricht got arrested, but BTC worth billions of USD went missing. Busting this guy apparently cleared up some of the mystery.
How this guy did this was even more bizarre… He first deposited BTC in his Silk Road Wallet. Less than 5 seconds later, he withdrew his initial deposit several times, rapidly and consecutively. To be precise, he repeated this 140 times and got 50,000 BTC. In other words, he was exploiting a lag in the market’s transaction system to pocket himself some money.
Trang "Tee" Nguyen 