Items tagged with Silk Road

In the latest episode of what's become an ongoing Silk Road soap opera, the U.S. Marshals Service announced this week that it plans to auction more than 2,700 Bitcoins that were confiscated as a result of several investigations tied to the illegal marketplace. All tallied, the Bitcoins are worth in the neighborhood of $1.6 million in U.S. currency.This isn't the first auction of forfeited Bitcoins from the Silk Road saga and it may not be the last. There have been four previous auctions of the digital currency from June 2014 to November 2015, all of which were seized during the prosecution of Ross Will Ulbricht, otherwise known by his online identity Dread Pirate Roberts.The FBI raided and shutdown... Read more...
The current prosecution of Ross Ulbricht has brought to light the U.S. government’s stance when it comes to hacking into servers outside the country without a warrant. According to a new legal filing for the Ulbricht case, the Justice Department said that such a warrantless search is permissible. This revelation came about as questions have been asked regarding the method the government used to locate the Silk Road servers in Iceland. Ulbricht, who the government suspects of being the operator of the illicit drug website, challenged the government’s explanation that a leaky CAPTCHA on the site’s login was responsible for leading them to the IP address and accused them of unlawfully... Read more...
The bumpy Silk Road saga is finally coming to an end after the U.S. Marshals Service auctioned away some 30,000 Bitcoins that were confiscated from the site. It was a 12-hour auction consisting of nine blocks of 3,000 Bitcoins and a single block of 2,657 Bitcoins. All combined, the confiscated cryptocurrency was worth just shy of $18 million. Silk Road was once a popular site for purchasing illegal drugs and other shady miscellaneous items. Bitcoin quickly became a preferred method of payment due to its anonymous nature, which had obvious appeal for buyers trying to keep their activities on the down low. Image Source: Flickr (BTC Keychain) The FBI raided and shutdown Silk Road in September of... Read more...