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Winklevoss twins claim cryptocurrency guru stole 5,000 bitcoins
The Winkevoss twins are back in the news for their involvement in the cryptocurrency world, but this time they likely wouldn't want to celebrate. The New York Times has learned that the two sued crypto investor and ex-convict Charlie Shrem for allegedly stealing 5,000 bitcoins in 2012 -- no small amount when they'd be worth roughly $32 million today. The Winklevoss Capital Fund sent Shrem $250,000 in 2012 to buy bitcoins on its behalf, but delivered $189,000 worth based on the price at the time. The figure was lost in a larger dispute over an investment in Shrem's BitInstant, but it's clearly more important now.
Bitcoin exec to spend two years behind bars for Silk Road transactions
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 drug and gun sales that was busted by the FBI back in 2013. A version 2.0 went up shortly after that, but it suffered the same fate as its predecessor this November. Based on evidence gathered during the crackdown, Shrem agreed to partner with Robert M. Faiella to trade over $1 million in cash from buyers. Faiella was the one with direct contact to buyers, hiding behind the name BTCKing to post ads promoting his dollar-to-Bitcoin business on the marketplace.
