Sign Up on MEXC
Bitcoin has emerged as one of the most popular cryptocurrencies. Not only that, but it was also the beginning of a trillion-worth industry where millions of cryptos exist, carrying billions worth of transactions daily. With this, so many businesses were built, and so many industry leaders have come forward. One such leader, with the username Friedcat, ruled China and the overall Bitcoin market but has now vanished in thin air. This Friedcat shocking Bitcoin mystery has left people speechless with a realization of how soon success turns into failure.
Friedcat Becomes Biggest Miner Before Bitcoin Mystery
Friedcat is the nickname that this child prodigy, Jiang Xinyu, gave to himself to set foot in the crypto world. He was born in 1986 and was an intelligent kid who entered the University of Science and Technology of China at just 14 and got a PhD in computer science when he was 15.
Jiang established a crypto startup in 2012 and raised $100,000 to build the earliest ASIC miner machines for Bitcoin Mining. He joined hands with Jihan Wu, a VC in China, and Xiaoqiang. In the beginning, he sold his company shares for as low as $0.1 BTC, but the success knocked at the doors soon.
Jian Xinyu was just in the mid-20s when he began controlling almost 20% of the Bitcoin hash rate in 2013. Shares sold for 0.1BTC became 5 BTC, which is a 5000% surge in value. At this time, miners were mining 1000 plus BTCs, making thousands in profits.
The company distributed 140,000 BTC among shareholders as the company value reached 2 million BTC. Jian was still in power as he held 59% of the shares, making 200 MILLION RMB within the first three months per Bitcoin Historian, an X Influencer. The company must have been in billions of dollars today as the BTC price targets $60K after rising above $73K earlier.
The Bitcoin miner who vanished without a trace.
A thread 🧵
1. In 2014, Jiang “Friedcat” Xinyu, left his home. The 28-year-old was said to be suicidal, in debt, and owed millions. His mother and wife never saw him again
But that’s just the beginning of this unsolved mystery… pic.twitter.com/Eu5no8koeL
— The Bitcoin Historian (@pete_rizzo_) August 18, 2024
Not only that, he received the endorsement from Li Xiaolai, who is the largest Bitcoin holder in China. While success was coming for Jiang, he became the biggest Bitcoin miner ( $400 million RMB worth of Bitcoin mining) before tragedy struck.
Friedcat Lost Everything – Money, Family & Himself
After two years of success at his feet, Jiang faced the biggest challenges of his life as the ASICMiners machine began to explode due to heating issues. Later, his business partners embezzled all the investor’s money, leaving Jiang Xinyu broken and in debt.
Jiang left the country to find new partners, but it was more like he vanished from the planet. The investors were hunting him and found only a few hints of his existence. His last online presence was when he reviewed a documentary on the history of America. Many called it a clue to find him, whereas the rest called it a cry for help.
His friends and family, no one had heard from him long. His wife, whom he married in October 2014, divorced him in 2015 as he disappeared just three months of marriage.
Where Is He Now?
There has been no news of Jiang ever since. Many believe he has killed himself due to depression, whereas some believe he is hiding after losing money. His chances of being alive stood there as two of Jiang’s crypto wallets became active in 2017, transferring 17,597 BTC from the wallet through multiple transactions. Despite the rumors and theories of his disappearance, there is no news about this BTC Miner, making it the Friedcat shocking Bitcoin Mystery.
Jiang was a dreamer who made a name for himself in the industry. But he is long lost now, with no one ever hearing about him. He had worked on the development of the industry when people called it a scam, making him worth remembering wherever he is.
Final Thoughts
Jiang Xinyu has been a brilliant person from the beginning. He finished his PhD by 15, built billions worth of startup by 26, and disappeared when he was 28. He had a family and a budding crypto community but lost everything when his creation ASICMiners machine exploded. His partners whom he trusted left him behind after embezzling all the money. There’s been no news about him since 2017 and is recalled as the Friedcat shocking bitcoin Mystery to the world.
- XRP Whales Dump 40M Coins Despite ETF Anticipation, Here’s Why
- Ethena Labs Exits Hyperliquid USDH Bid as Polymarket Traders Back Native Markets
- Save the Planet & Win Big: Chimpzee’s Charity Tickets Change the Game
- Economists Predicts 25bp Fed Rate Cut Over 50bp, Expects Additional Cut Before Year-End
- Gemini IPO News: GEMI Stock Set for Blockbuster Nasdaq Debut on Multiple Catalysts
- Dogecoin Price Prediction: Can CleanCore’s 500M DOGE Treasury Drive a 92% Breakout?
- SHIB Price Forecast as LEASH V2 Rollout Expands Cross-Chain — Is a 200% Rally Ahead?
- BNB Price Forecast as Binance–Franklin Templeton Deal Strengthens Path to $1,500
- Pi Network Price Wyckoff Theory Signals a Surge as One Whale Keeps Buying
- ETH Price Prediction As Bitmine and SharpLink Continue ETH Buying Spree- Analyst Predicts $7K Next
