Wednesday, October 2, 2013

UPDATE: The Government Has Seized $3.6 Million Bitcoins From Silk Road Operator

Here's the latest on the arrest of the operator of Silk Road.

Via Market Watch:
Federal authorities said Wednesday they have arrested the alleged owner and operator of the drug market Silk Road, and seized the Silk Road website. Ross William Ulbricht, 29, was arrested in San Francisco and will be charged with narcotics trafficking conspiracy, computer hacking conspiracy, and money laundering conspiracy. Silk Road is "a vast online marketplace responsible for the distribution of hundreds of kilograms of illegal drugs and other illicit goods and services," according to the complaint. The government also seized 26,000 bitcoins, worth about $3.6 million, the largest-ever seizure to date.


 LinkedIn Page of Alleged Silk Road Operator here.

It's getting crazy.

 Alleged Founder Of Silk Road Accused Of Trying To Take A Hit Out on Blackmailer

 Details here.


  1. I don't use drugs (except alcohol), and I don't condone their use, but if Mr. Ulbricht was indeed the Operator of Silk Road, then the agora has lost a hero. The man is a principled libertarian and I salute his efforts to undermine the state. Best of luck to him, though I suspect the state will be more vicious than usual in this case. They'll want to make an example of him.

    1. On the update, I have my suspicions about the veracity of those allegations of a hit. But if he did seek out a hit contract, then I take back my use of the word "hero". The goal of Silk Road was to be a peaceful place of exchange - an example of the market without coercive nature of the state.

    2. Don't take it back. Even heroes have a right to defend themselves, you know.