Silk Road Continues to Prove its Resilience
Silk Road 2.0 has reimbursed over half its users since the February heist and has no plans to stop. It seems like Silk Road is far more resilient than most people thought. Back in May 2013, Silk Road went down due to a sustained DDoS attack, but site admins were soon able to restore the service. Then in October 2013, the United States FBI shut down the illegal online drug marketplace and arrested the site's owner - Ross Ulbricht, formerly only known as “Dread Pirate Roberts”. Many Silk Road users feared that the site was gone for good, but on 6 November 2013, site admins launched “Silk....
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The Silk Road 2.0 saga continues, a 29-year old Briton has pleaded guilty to supplying and possessing drugs on the Silk Road 2.0 platform. Silk Road 2.0 was the successor of nefarious drug-dealing platform Silk Road, created by Ross Ulbricht in order to create a use case for popular digital currency Bitcoin. The history of Bitcoin has been plagued by both Silk Road and Silk Road 2.0 platforms. Not because these platforms created new use cases for the popular digital currency, but because they are both associated with illegal substances, drugs and other illicit dealings. Ever since both....
Online black market Silk Road 2.0, the marketplace leader in drug listings and total listings, has revealed a new update on the status of its ongoing customer repayment efforts. The reimbursement plan was put in motion by Silk Road 2.0 after the site suffered a serious hack in February that resulted in the loss of 4,476 BTC in customer funds ($2.6m at then-market prices). Undeterred, Silk Road 2.0 proposed a seven-point plan that would find moderators going without payment and the site charging a markup on purchases to recoup the losses. Moderator Defcon issued a lengthy statement on a....
The latest reincarnation of the deep web marketplace, in the form of Silk Road 3.0 is started by the people behind Crypto Market. Will they be able to live up to the expectations? Silk Road is reincarnated for the fourth time. The deep web marketplace is back online after its predecessors were forcibly shut down by the law enforcement agencies resulting in the creator’s arrest and incarceration. Silk Road used to be a network of trade routes traversing through the whole of Asian continent to connect with the Mediterranean Sea. It originally got its name for being the route taken by the....
Former Silk Road merchant Peter Ward has announced his intention to hire a lawyer and file a claim for 100 bitcoins that he says were wrongly taken by the government during its seizure of online black market bazaar Silk Road. The owner of Planet Pluto - a head shop in Devon, England, Ward says he earned the bitcoin - worth $85,000 at press time - lawfully, through the sale of drug accessories such as bongs, marijuana seeds and rolling papers, items he sells successfully online through other outlets. Speaking to Forbes, Ward suggested that he has the ability to prove his transactions on the....
The FBI shut down black marketplace Silk Road a year ago. This hidden website was used for the sale and purchase of items and services such as drugs, weapons, fake passports and other forged documents. To refresh your memory of the full Silk Road story, check out our interactive timeline below: This article is part of CoinDesk's Silk Road: One Year On series. Keep checking back for new additions to the series. Road. Silk RoadTimelines