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$820,000. That's how much former Secret Service agent Shaun Bridges pilfered in bitcoin during his time investigating the online black market, Silk Road. Bridges pleaded guilty to money laundering and obstruction of justice recently and the Department of Justice says that it was analyzing the "blo...

September 1st 2015 at 1:48am 0 Comments
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One of the reasons that Silk Road was so popular and dangerous was because it enabled people who would have otherwise never dealt drugs to become Scarface-like kingpins. That's the tale of Michael Duch, an IT consultant who has wound up being sentenced to two and a half years in prison for dealing...

July 22nd 2015 at 11:18am 0 Comments
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Ross Ulbricht is going away for life. The prosecution urged judge Katherine Forrest to send a strong message to anyone who might be tempted to go the Silk Road way, and she did. In addition to maximum time, the judge ordered $183 million, the estimated total sales from Silk Road, to be paid as res...

May 30th 2015 at 11:58am 0 Comments
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Silk Road founder Ross Ulbricht aka Dread Pirate Roberts will be an old man by the time he gets out of prison. The 31-year-old is already expected to serve a minimum of 20 years after being found guilty on seven charges, including money laundering and narcotics trafficking. But the United States...

May 27th 2015 at 2:04am 0 Comments
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If you were hoping that Ross Ulbricht (Dread Pirate Roberts of Silk Road fame) was going to get a retrial, you might wanna walk those expectations back a bit. Okay; a lot. Despite the two former federal agents involved in the investigation purportedly stealing bitcoins and committing wire fraud du...

April 28th 2015 at 10:39pm 0 Comments
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While Ross Ulbricht was found guilty for creating and running the online black market known as Silk Road, it seems that a couple of Federal agents assigned to the case weren't so innocent either. The US Justice Department has just charged two former Federal agents involved in the investigation for...

March 30th 2015 at 5:47pm 0 Comments
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It's a story that belongs in a major motion picture. Hidden identities, narcotics, money laundering, computer hacking, blackmail and even attempted murder are all parts of this dramatic tale. But the story behind Silk Road, the online black market for drugs and other illegal goods, is not fiction. I...

February 8th 2015 at 12:00pm 0 Comments
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After a trial of several weeks, a federal jury has found Ross Ulbricht guilty of running and operating the online black market known as Silk Road. He was found guilty on all seven charges, which include money laundering, narcotics trafficking and computer hacking. Ulbricht was accused of being the...

February 4th 2015 at 4:27pm 0 Comments
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Charlie Shrem, former Bitcoin Foundation board member and CEO of the now-defunct exchange BitInstant, has been sentenced to two years in prison for helping Silk Road users anonymously swap cash for digital currency. Silk Road, as you know, was the online marketplace infamous for hosting anonymous...

December 21st 2014 at 6:02am 0 Comments
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Want a virtual piece of law enforcement history? You're about to get your chance. The US Marshal's Service is holding an auction on December 4th that will sell off 50,000 Bitcoins from Ross Ulbricht (aka Dread Pirate Roberts), the alleged founder of the black market website Silk Road. You'll need...

November 17th 2014 at 6:11pm 0 Comments