Former Plumber Gets 4 Years for Silk Road Connections
Things are really starting to heat up regarding the Silk Road marketplace (as if things already weren't hot enough). Following the start of Ross Ulbricht's trial last week, a bitcoin trader has been sentenced to four years in prison due to his unveiled connections to the underground illegal market. Robert M. Faiella (who often operated under the code name "BTCKing") has recently pled guilty to operating an illegal money transmission business. Often times, the business saw to the exchange of fiat currency for bitcoins, which would then be used to purchase drugs and other items from Silk....
Related News
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....
28-year-old Brian Farrell aka “DoctorClu”, a senior admin and second-in-command on Silk Road 2.0, the copycat clone of the original underground darknet website Silk Road was sentenced to eight years in prison. DoctorClu, the right-hand man to Silk Road 2.0 chief Blake Benthall aka “Defcon” and second-highest admin at Silk Road 2.0 was sentenced to 8 years in prison after pleading guilty to one count of distribution of cocaine, heroin and methamphetamine. Brian Farrell, plead guilty in March 2016 and his plea was accepted the following month. The charge carries a minimum sentence of five....
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
If reports are to be believed, a new version of the online drug marketplace Silk Road - "Silk Road Reloaded" - has been launched recently. It is only a coincidence that the new Silk Road's introduction arrived only after the death of its predecessor Silk Road 2. In fact, our research revealed that Silk Road Reloaded was in development for over a year. This somewhat indicates that the makers of previous versions may not be backing this new project after all. And it reflects in the outcome as well. Silk Road Reloaded apparently uses "I2P" instead of the Fed's favorite Tor. I2P stands for....
Robert M Faiella, the bitcoin trader charged alongside BitInstant CEO Charlie Shrem, has been sentenced to four years imprisonment in New York. Faiella, otherwise known as 'BTCKing', pleaded guilty to operating an illegal money transmission business after he exchanged fiat currency for bitcoins that were then used to buy drugs on the Silk Road marketplace. According to a Bloomberg report, Faiella said: "At the time of the event, I saw no other way ... it still doesn't mitigate that I broke the law." Faiella, a 53 year-old Florida native, is a former plumber who claimed he had turned to the....