FriedCat, once known as the "No. 1 in the cryptocurrency world", has been missing for many years.
On November 12, nearly 10 years later, the four-year dormant address 1BnkE...yxFey transferred 206.34 BTC worth $18.12 million to 15286...bjYma 10 minutes ago. Currently, all the BTC in this address has been transferred empty.
FriedCat, whose real name is Jiang Xinyu, was born in Shaoyang, Hunan in 1986.
His grades have always been good since he was a child. At the age of 15, he was admitted to the Junior Class of the University of Science and Technology of China with a score ranking 11th in the country. At the age of 23, he obtained a master's degree from the University of Science and Technology of China.
In 2011, FriedCat went to Yale for a visiting scholar program, but he gave up his doctoral degree and chose to take a leave of absence. Because in that year, FriedCat came into contact with Bitcoin, and the liberal ideas it carried deeply attracted him. So he studied Satoshi Nakamoto's Bitcoin paper day and night, and gradually became fascinated with mining. FriedCat quickly raised enough funds of 1 million yuan and began to carry out his mining machine business in an orderly manner.
In July 2012, he and his partner Fan Dawei registered the company Bitquan in Shenzhen and successfully IPOed on the exchange, of which he held 59% of the shares. In early 2013, Baked Cat developed the first Bitcoin mining machine, making him the second mining machine manufacturer in the world.
In early 2013, the 12.8G mining machine of FC was launched. On February 18, the mining machine of FC mined a block for the first time, with a total of 50 BTC. Soon after, the mining farm of FC was also established, and its computing power accounted for 42% of the computing power of the entire network. 2013 is recognized as the first year of Bitcoin, and the career of FC reached its peak. The company's stock price reached the highest point of 5BTC/share, and the dividend per share was as high as 0.036222 Bitcoin. In addition to the increase of Bitcoin itself, most shareholders at that time received more than 500 times the value-added return, and FC also made at least 200 to 300 million yuan in net profit, which does not include the Bitcoin assets he holds.
However, the good times did not last long. In the process of developing the second-generation mining machine, FriedCat encountered a bottleneck and failed to produce the second-generation mining machine chips in time. In October 2013, FriedCat's computing power was less than 4% of the entire Bitcoin network, and its position as a mining tyrant was no longer secure. In September 2014, due to a lawsuit, FriedCat had to pay a penalty of 80 million.
At the end of 2014, FC suddenly lost contact.
FriedCat's family reported the case to the police on January 25, 2015, but there has been no news for several years. On the bitcointalk forum, FriedCat last logged in at 4:03 pm on January 25, 2015, Beijing time.
Where did FriedCat go? Did he run away or was he murdered? Only his wallet is still silently transferring out Bitcoins.
On March 3, 2015, 19,000 bitcoins were transferred from BBQCat’s three bitcoin wallet accounts within a few minutes.
On July 29 and August 4, 2017, a total of 17,597 bitcoins were transferred from Kaomao’s two wallet accounts.
But in the end, FriedCat did not appear again.
On November 12, 2024, the BBK address 1BnkE...yxFey, which had been dormant for four years, transferred 206.34 BTC to 15286...bjYma, worth 18.12 million US dollars.
If Bitcoin could have developed earlier, could be used for financial management, and could generate benefits, perhaps FriedCat could have lived a good life with that pile of Bitcoin. Just like now, based on decentralized finance (DeFi), many service projects that integrate centralized finance (CeFi) and decentralized finance (DeFi) have been generated. As the first project of Binance Megadrop, BounceBit, which was launched at the beginning of the year, is not only a financial management platform, but also a BTC L2. It takes advantage of the unique advantages of on-chain settlement and perfectly combines Binance's official Ceffu custody with decentralized ledger technology, providing users with a safe and efficient trading environment. Let me introduce the BounceBit project to you below.
🌹What is BounceBit?
BounceBit is a Bitcoin staking chain based on the PoS mechanism, and its goal is to create a powerful smart contract execution environment for Bitcoin. BounceBit emphasizes that it is not a Layer 2 built on the Bitcoin blockchain, but a Layer 1 ecosystem using the PoS mechanism.
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BounceBit's core mission is to build Bitcoin's yield infrastructure, enabling Bitcoin holders to easily realize asset appreciation by providing institutional-grade yield products, rich re-staking application scenarios, and services that integrate centralized finance (CeFi) and decentralized finance (DeFi).
🌹BounceBit's unique advantages are mainly reflected in the following aspects:
Secure BTC Restaking: BounceBit has built a solid BTC Restaking infrastructure and works with regulated custody providers such as Ceffu, Mainnet Digital, and Fireblocks to ensure the safety of user funds.
Innovative Dual-Currency PoS Mechanism: This hybrid consensus mechanism allows validators to accept both BBTC and BB tokens, thereby expanding the base of network participants and enhancing the resilience and security of the network consensus structure.
User-friendly BounceClub: As an on-chain space, BounceClub allows users to create personalized DeFi experiences through simple mini-program building tools without writing code. These mini-programs can be easily integrated into the App Store, bringing unprecedented convenience to users.
Flexible Liquid Custody: BounceBit introduces the concept of “liquidity custody”, which allows collateral assets to maintain liquidity while providing users with more opportunities to earn returns.
For investors who are looking for a safe, reliable, stable and forward-looking investment method, BounceBit is undoubtedly an option worth looking forward to. With the continuous development of the crypto market, BounceBit V2 is expected to achieve a double leap in price and cognition in the near future and become a shining star in the crypto field.