Silk Road Owner Arrested & $3.6 Million Bitcoin Seized

How Will this affect Bitcoin Prices

Check my post on how to buy BTC with credit card and paypal HERE:

The feds have caught up to the Silk Road. The underground website long known for drug trafficking was seized by the FBI who also arrested the owner on three criminal counts. Prosecutors charged Ross William Ulbricht with one count each of narcotics trafficking conspiracy, computer hacking conspiracy and money laundering conspiracy, according to a court filing.


Silk Road has long existed in the corner of the Internet dubbed Deep Web. Launched in 2011, the site quickly gained notoriety for its market place of drugs and guns. Basically, Silk Road became the Amazon of drugs.
As the court documents note, the owner of Silk Road, Ross William Ulbrichy, intentionally and knowingly violated the US’s narcotics laws.

“From in or about 2011, up to and including in or about September 2013, ROSS WILLIAM ULBRICHT, a/ka/ “Dread Pirate Roberts,” a/k/a “DPR,” a/k/a “Silk Road,” the defendant, owned and operated an underground website, known as “Silk Road,” that provided a platform for drug dealers afound the world to sell a wide variety of controlled substances via the Internet.”

Another Post Found Here about what might of happened?

  DPR sent a message to "redandwhite" stating that "FriendlyChemist"
    is "Causing me problems" and adding: "I would like to put a bounty on
    his head if it's not too much trouble for you. What would be an
    adequate amount to motivate you to find him?" 

And then

    Later that same day, redandwhite send DPR a message quoting him a
    price of $150,000 or $300,000 "depending on how you want it done" -
    "clean" or "non-clean" 

    DPR responded: "Don't want to be a pain here, but the price seems high.
    Not long ago, I had a clean hit done for $80k. Are the prices you
    quoted the best you can do? I would like this done ASAP as he is
    talking about releasing the info on Monday. 

    DPR and redandwhite agreed upon a price of 1,670 Bitcoins - approximately
    $150k - for the job. In DPR's message confirming the deal, DPR included
    a transacation record reflecting the transfer of 1,670 Bitcoins to a
    certain Bitcoin address.


Leave a comment

Filed under Bitcoin

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s