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30,000 bitcoin forfeiture in Silk Road case is biggest ever
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30,000 bitcoin forfeiture in Silk Road case is biggest everPosted:

Tywin
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TLDR;
A college student ran the most intricate drug empire ever on the internet.
The currency of choice was Bitcoins.
When they finally seized the website, they found over $24,000,000 in BTC and that the college student had actually ordered hits out on 3 people.

NOTE - Before you call this guy an idiot for doing it on the internet, do your research.
Don't make yourself look stupid.

Nearly 30,000 bitcoins were ordered forfeited by the Silk Road website in the largest such action ever involving the e-currency, federal prosecutors said Thurday in New York.

But thats a drop in the bitcoin bucket in this case: The government says it has another 144,336 bitcoins seized from computers belonging to Ross Ulbricht, the alleged founder and mastermind behind Silk Road. The 29,655 in the forfeiture order signed by U.S. District Judge J. Paul Oetken in federal court in Manhattan on Wednesday were seized earlier from Silk Road servers.

Ulbricht was arrested Oct. 1 in San Francisco on charges that he ran the most sophisticated and extensive criminal marketplace on the Internet a place where drug dealers and customers could make transactions beyond the eyes of law enforcement.

Silk Road used bitcoin, an electronic currency untethered to any government, to help keep the deals secret, prosecutors said. In addition to the drugs, according to a federal complaint, Silk Road facilitated deals on computer hacking, forgeries, even hitmen.


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The following 5 users thanked Tywin for this useful post:

-LC (04-04-2014), TomorrowLand (01-18-2014), Cokes (01-17-2014), imgur (01-17-2014), Miss (01-17-2014)
#2. Posted:
Hennessy
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thats pretty badass dude...lol
#3. Posted:
Kenjishu
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Surely with 24 Million you could have set yourself up in
a non extradition country but clearly he was not that smart
#4. Posted:
Tywin
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Xianonic wrote Surely with 24 Million you could have set yourself up in
a non extradition country but clearly he was not that smart


He didn't get caught because they were looking for a kingpin.
He was caught because they were looking at him for hacking charges that were unrelated when they stumbled into his self made empire.

He had servers located in secret locations all over the globe.

I mean who would suspect this guy as a drug kingpin:
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#5. Posted:
Miss
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That guy is a genius, I gave him props for getting that far with it.
#6. Posted:
Tywin
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Miss wrote That guy is a genius, I gave him props for getting that far with it.


Other than the fact he is facing these charges:
  • Murder for hire
  • Attempted witness assassination
  • Money laundering
  • Conspiracy to distribute a control substance
  • Misuse of a federal mailing system
  • + More


It is safe to say his life is over.
#7. Posted:
Kenjishu
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American agencies have task forces stationed to take down the
illegal online sales through silk road everyone knows that and when
your pulling in 24 million any smart man would cover his :idea:
by moving to a country where he cant get extradited
#8. Posted:
Tywin
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Xianonic wrote American agencies have task forces stationed to take down the
illegal online sales through silk road everyone knows that and when
your pulling in 24 million any smart man would cover his :idea:
by moving to a country where he cant get extradited


Which he would of done once they were actually getting close.
But like I said, they found it through investigating his hacking charges.

Not through the task forces you're talking about.
#9. Posted:
Kenjishu
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Lavish wrote
Xianonic wrote American agencies have task forces stationed to take down the
illegal online sales through silk road everyone knows that and when
your pulling in 24 million any smart man would cover his :idea:
by moving to a country where he cant get extradited


Which he would of done once they were actually getting close.
But like I said, they found it through investigating his hacking charges.

Not through the task forces you're talking about.


Dont get me wrong i fully get your point im just saying for the future
purposes he could of ran this out of another country rather than america
therefore he would not face the charges he does today. but in my view he
deserves it drugs ruin people.
#10. Posted:
KatsumiChan
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Have to admit, he hid it for this long.

He's pretty good.
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