Feds Stand Poised To Dump Their Silk Road Bitcoins

Feds Stand Poised To Dump Their Silk Road Bitcoins

Undoubtedly many readers have seen this wallet before, we've linked to it a lot here in articles onCCN. Those are the "Silk Road Bitcoins" seized by a joint federal task force in the October take-down of the infamous online drug marketplace: Silk road. During the take-down that included crazy antics by undercover agents at a public library in a brazen heist to steal Silk Road operator Ross Ulbricht's laptop mid-session, the Feds were able to gain control of 29,655 Bitcoins from Silk Roads' servers. These Bitcoins belonged, in large part, to individual users of Silk Road from around the....


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Silk Road's anonymity helped Feds bring it down

It's still mind-boggling to think that Silk Road, a supposedly anonymous black marketplace for illegal goods, could operate for such a long period of time without police interference. New evidence has come to light, though, suggesting the Feds were actually involved in the operation for a long time before the website was taken down. A recent document released by The Smoking Gun makes clear that Steven Lloyd Sadler - a top drug kingpin from Silk Road - was actively working with the Feds. The anonymity of Silk Road's web presence actually made it easy for cops to make undercover drug deals....

A New Silk Road Emerges

In what may be facetiously called the surprise of the century, a new version of the now-famed 'Silk Road' deep web narcotics exchange emerged Wednesday, dubbed aptly as 'Silk Road 2.0.'. The site, accessible via Tor, is reported to sport the familiar interface that the first iteration of Silk Road had before it was shut down in a major bust by the U. S. government. "This hidden site has risen again," it declares boldly on the home page, seemingly poking fun at the Federal notice (seen in the screen shot above obtained by Forbes. According to CoinDesk, "the 'profile' page has been updated,....

Silk Road alternatives emerge as public hammers FBI bitcoin wallet

The bitcoin community has been having some fun with the FBI, after it discovered the bitcoin address that the agency has been using to transfer Silk Road bitcoins to its own wallet. Pranksters have been sending tiny transactions to the address, giving them a chance to attach personal messages to the feds. The FBI had already seized 26,000 bitcoins that had been held in escrow for Silk Road customers. It registered a bitcoin address using blockchain.info, which has a feature enabling people to attach notes if they send bitcoins using its wallet. Among advertisements for bitcoin exchanges,....

Another Silk Road Auction: USMS to Auction 50,000 Bitcoins Taken From Ross Ulbricht

50,000 Bitcoins are going to be auctioned in the coming weeks. Despite the fact that Ross Ulbricht is not scheduled to stand trial until after the holiday season, the US Marshal's Service is going ahead with a second round of their Silk Road Bitcoin Auction. These Bitcoins that are currently being sold through the beginning of December likely belong to Ross Ulbricht himself, not Silk Road or Silk Road users. In January, Ross Ulbricht and his lawyers signed a court order that allowed the USMS to sell Bitcoins belonging to Silk Road and all property traceable from said crime, "including but....

Penguin Random House to Publish Book on Silk Road, Bitcoin

Journalist Brian Eha will be soon quitting his assistant editing job at Entrepreneur.com to write a book about bitcoin and Silk Road, reports indicate. The book, titled Walking the Silk Road, is to be published by Penguin Random House - a giant in the industry. The book will feature accounts of what took place in 2013 at the underground 'dark web' drug marketplace, notoriously shut down by American feds, who now own the richest bitcoin wallet in the world (a result of the seizure). "Bitcoin is one of the hottest topics in business today, and its connection with Silk Road makes for a....

Quotes

Will people be buying yachts with their Dogecoin riches some day? Probably not. But are we having a lot of fun, helping great causes and spreading the digital currency word in the process? Yes we are. And perhaps if we pool our Dogecoin together we can build a Dogeyacht and sail the world, just saying...!

Jackson Palmer