It seems that crypto is plagued by fraudsters. A new story comes out every day about the latest billionaire who scammed everyday people to make their money. For the last few weeks news outlets have been covering the Sam Bankman-Fried court case, detailing the testimony made by his ex-business partner Caroline Ellison. However, a new story has shocked audiences. CNBC just dropped a documentary titled ‘Crypto 911: Exposing A Bitcoin Billionaire’, outlining how Jimmy Zhong managed to steal $3 billion dollars worth of Bitcoin from Silk Road, a dark web marketplace.
After almost a decade of getting away with his crime, Jimmy Zhong made a critical mistake that led IRS-CI straight to his door. Now, this new documentary details exactly what happened and how Zhong was able to get away with his crimes for so long.
But how will this damage crypto? Unfortunately, all these trending news stories are negatively impacting the market, leading potential new investors away from the crypto scene. However, one new crypto is launching into the meme coin scene with lots of potential. Doge Uprising ($DUP) is a presale project with a strong roadmap outlining an intricate new Web3 world. This project is hoping to restore some faith in the crypto community.
‘Crypto 911: Exposing A Bitcoin Billionaire’: What’s The Story Behind Jimmy Zhong?
In 2012 50,000 BTC was stolen from Silk Road, an illegal dark web marketplace. As the years passed, this amount skyrocketed to be worth over $3 billion while the perpetrator was never found. However, in September 2019 Chainalysis, a blockchain analytics company tasked with tracing the digital wallets containing the stolen assets, spotted an $800 transfer to a crypto exchange that required real names and addresses. The name on the account? Jimmy Zhong.
This wasn’t Zhong’s first encounter with the police. Only six months earlier he’d contacted them regarding a break-in and theft of hundreds of thousands of dollars worth of Bitcoin. At the time Jimmy Zhong introduced himself as a self-proclaimed Bitcoin billionaire who bought in as early as 2009.
Turns out, Jimmy Zhong was one of the OG Bitcoin creators. He was among a small group of early coders who developed Bitcoin’s technology. Zhong made key contributions to the original Bitcoin code and offered ideas to the early developers on how to reduce the blockchain size. Then, he stole the very thing that he helped to create.
Enter: New Crypto Doge Uprising
Following this bad press, the crypto community desperately needs some positive news to restore faith in crypto. Trust has been broken, especially when one of the earliest creators is now wrapped up in a fraudulent scandal. Luckily, the new presale crypto coin Doge Uprising is launching its presale, striving to bring strength, defiance, and pride back to crypto.
Doge Uprising is the first crypto project to launch its own Web3 universe, interactive manga series, smart staking, and NFT collection. Focussing on community engagement and trust, this project is rewriting the rules of crypto and bringing the focus back to the users.
If you want to see a project finally thrive in this space, restoring faith in the crypto market, follow the links below to find out more.
Doge Uprising ($DUP):
| Website: | https://dogeuprising.co/ |
| Telegram: | https://t.me/+JfnjZpCD9b4wNTlk |
| Twitter: | https://twitter.com/Doge_Uprising |
| Discord: | https://discord.gg/D6auhYKnFS |
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