Tag

Last week, Robert Faiella, the operator of a Bitcoin exchange connected with online black market bazaar Silk Road, received a four-year prison sentence after pleading guilty to operating an illegal money business. Bloomberg reported that Faiella, a former plumber living in...

One day, they are going to make a movie about this. The Silk Road trial continues to escalate today (the third day of the trial) as the defense lays out their version of the history of the darknet drug market. The gist of their defense is that Ross Ulbricht is not, in fact, the...

On Friday, Charlie Shrem was sentenced to two years in prison for indirectly helping to transfer $1 million in Bitcoins to the online black-market bazaar Silk Road, report several media outlets. US District Judge Jed Rakoff also ordered Shrem – a former vice chairman of the...

On Monday, the US Marshals Service (USMS) announced it plans to auction off 50,000 Bitcoins – valued between $19 million and $20 million USD – that were seized in connection to the now-defunct online black market Silk Road, report several news outlets. According to Forbes,...

The Silk Road, shut down by the FBI in October of last year, was undeniably an enormous factor in the illegal international drug trade, and its creator/operator appears to be guilty of many crimes. Yesterday, however, Ross Ulbricht, the man alleged to be the kingpin behind the...

Joshua Dratel, legal representative for Silk Road mastermind Ross Ulbricht, says his client has been wrongly accused on one account since bitcoin is not currency. Ulbricht was charged with money laundering, but Dratel says that charge should be dismissed. Representation of Ross...