The dormant four-year-old address 1BnkE...yxFey transferred 206.34 bitcoins worth $18.12 million to 15286...bjYma at noon today (Tuesday); currently, all the bitcoins in this address have been sold.
According to market analysis, in 2012, when Bitcoin was still unknown in China, FriedCat had already pioneered in the field of virtual currency. In 2013, he took a roller coaster ride with his faith and strength, bringing himself and many others huge wealth and passionate shouts and exclamations. But at the end of 2014, he disappeared strangely without leaving a single word. His disappearance was full of doubts, and was called "one of the top ten unsolved mysteries in the cryptocurrency circle" by people in the circle.
It is reported that FriedCat's real name is Jiang Xinyu, who was born in Shaoyang, Hunan in 1986. In 2001, Jiang Xinyu, who graduated from Shaoyang No. 1 Middle School, was admitted to the Junior Class of the University of Science and Technology of China in Hefei with the 11th place in the country (another saying is 11th in Hunan).
In 2009, 23-year-old Jiang Xinyu obtained a master's degree in computer science by writing a thesis (Using formal methods to build a secure thread mechanism) and entered the doctoral program of the Department of Computer Science at the University of Science and Technology of China-Yale Center for High Trustworthy Software Research. In 2011, he went to Yale University for a visiting scholar program. It was also in the summer of that year that BBQ Cat encountered Bitcoin and began to study it.
On January 16, 2012, Jiang Xinyu registered an ID with the name “friedcat” on the Bitcoin forum Bitcointalk.
It is for this reason that the Chinese cryptocurrency circle gave him the nickname "Baked Cat", and thus a classic figure in the Chinese market came into being.
In July 2012, FriedCat posted a fundraising post on the forum, saying that he had the ability to develop ASIC mining chips and manufacture mining machines for mining, but he needed funds, and the goal of raising funds was 1 million RMB.
In this post titled “ASICMINER: Entering the Future of ASIC Mining by Inventing It”, Kaomao introduced the ASIC mining machine project and responded to external doubts.
His partner Fan Dawei registered Bitfountain Information Technology Co., Ltd. in Shenzhen. Subsequently, Baked Cat successfully conducted crowdfunding on the GLBSE exchange, with the stock name ASICMiner, which was also used to name Baked Cat's mining machines.
FC divided the company's shares into 400,000 shares, sold 41% to the public, and held 59% for himself. The success of FC's crowdfunding was due to the trust of people in the circle, and this was also because he was very active before the crowdfunding, rather than suddenly appearing on the forum to make money. It was this trust that made FC's subsequent loss of contact even more difficult to accept.
The ASICMiner project has attracted great attention in the global Bitcoin community. Among the domestic investors who invested in this project at the time were Wu Jihan, who later became a mining tycoon, and the online writer "Crazy Xiaoqiang". They had full faith in the capabilities of the BBQ team, representing the voice of many investors. The vision of Wu Jihan and others was later proven to be correct.
In its heyday, BitQuen even caused panic and attacks in the cryptocurrency community because of its excessive computing power. FriedCat distributed part of its computing power and only maintained it at 20% to calm everyone's panic. However, no man is good for a thousand days, and no flower is red for a hundred days. This passionate time did not last long.
In the field of crypto mining, R&D technology is the key to staying ahead. Baked Cat encountered difficulties in the process of developing the second-generation chip, and the market competition has become more intense than before. In addition to the main competitor Pumpkin Zhang, there are new competitors, including Wu Jihan. Wu Jihan was a shareholder of BitQuan and wanted to join the Baked Cat team, but Fan Dawei disagreed. Later, he found Zhan Ketuan as a technical partner, and the two co-founded Antminer, becoming one of Baked Cat's strong competitors.
By October 2013, the hashrate of the BBK mining machine had dropped from 42% of the network to 4%. People began to sell their BBK shares, causing the stock price to plummet, and setbacks followed.
In January 2014, the third-generation chip launched by FC had problems in design and packaging, resulting in insufficient heat resistance and easy explosion, which caused the new product to be unsalable. Although the Tube mining machine was launched in August of the same year, the profit was not high and it was difficult to make up for the previous losses. FC's business was in trouble.
Then, FriedCat's last hope was shattered. In September 2014, FriedCat met a Fujian businessman named Lin QX (pseudonym) through a middleman named "Chong Ge" who used to sell mining machines. The two agreed and signed a contract to invest in Huai'an, which is rich in power resources, and built a mining farm with an area of 2,000 square meters, placing 7,000-8,000 mining machines.
But in the end, due to various conflicts of interest, the two parties could not cooperate and had to breach the contract. According to the previously signed contract, FriedCat had to pay the other party 80 million yuan in liquidated damages.
In October 2014, FC got married.
At the end of 2014, FC suddenly lost contact.
No one, including FC’s family and team members, could get in touch with him. FC’s family reported the case to the police on January 25, 2015, but there was no news for several years, and this day was designated as the official date of FC’s disappearance.
On the bitcointalk forum, FriedCat last logged in at 4:03 pm Beijing time on January 25, 2015.
On the morning of January 23, FC held a two-day mining machine auction and announced the end at 8:03 am on January 25. Since the forum uses Greenwich Mean Time, adding 8 hours is Beijing Time.
On February 28, 2015, Bitquan Company stopped paying dividends.
On March 11, under pressure from various parties, Fan Dawei, as the co-founder of BitQuen, issued an official announcement on the bitcointalk forum on behalf of the company's management that FriedCat was missing, but stated that the company would continue to operate.
However, investors who came to defend their rights later found that the Bitquan office was empty.
The glass door of Room 1317, East Building, Shenzhen Coast Building was empty. According to company employee Wang Song, the FC team had already planned to give up Huai'an and go to Sweden to find a mine. They had already arranged their passports and air tickets, but they couldn't find FC before leaving.
To date, there are still many different opinions about FriedCat’s disappearance, but the unexpected resurrection of his wallet address has once again sparked heated discussions in the Chinese community.