You are viewing our Forum Archives. To view or take place in current topics click here.
30,000 bitcoin forfeiture in Silk Road case is biggest ever
Posted:

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

Tywin
  • TTG Elite
Status: Offline
Joined: Jun 06, 201112Year Member
Posts: 12,347
Reputation Power: 632
Status: Offline
Joined: Jun 06, 201112Year Member
Posts: 12,347
Reputation Power: 632
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.


Read full story - [ Register or Signin to view external links. ]

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
  • TTG Senior
Status: Offline
Joined: May 20, 201013Year Member
Posts: 1,075
Reputation Power: 41
Status: Offline
Joined: May 20, 201013Year Member
Posts: 1,075
Reputation Power: 41
thats pretty badass dude...lol
#3. Posted:
Kenjishu
  • 2 Million
Status: Offline
Joined: Feb 18, 201113Year Member
Posts: 814
Reputation Power: 24
Status: Offline
Joined: Feb 18, 201113Year Member
Posts: 814
Reputation Power: 24
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
  • 2 Million
Status: Offline
Joined: Jun 06, 201112Year Member
Posts: 12,347
Reputation Power: 632
Status: Offline
Joined: Jun 06, 201112Year Member
Posts: 12,347
Reputation Power: 632
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:
[ Register or Signin to view external links. ]
#5. Posted:
Miss
  • V5 Launch
Status: Offline
Joined: Jan 12, 201113Year Member
Posts: 11,617
Reputation Power: 654
Status: Offline
Joined: Jan 12, 201113Year Member
Posts: 11,617
Reputation Power: 654
That guy is a genius, I gave him props for getting that far with it.
#6. Posted:
Tywin
  • Winter 2016
Status: Offline
Joined: Jun 06, 201112Year Member
Posts: 12,347
Reputation Power: 632
Status: Offline
Joined: Jun 06, 201112Year Member
Posts: 12,347
Reputation Power: 632
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
  • 2 Million
Status: Offline
Joined: Feb 18, 201113Year Member
Posts: 814
Reputation Power: 24
Status: Offline
Joined: Feb 18, 201113Year Member
Posts: 814
Reputation Power: 24
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
  • Tutorial King
Status: Offline
Joined: Jun 06, 201112Year Member
Posts: 12,347
Reputation Power: 632
Status: Offline
Joined: Jun 06, 201112Year Member
Posts: 12,347
Reputation Power: 632
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
  • TTG Master
Status: Offline
Joined: Feb 18, 201113Year Member
Posts: 814
Reputation Power: 24
Status: Offline
Joined: Feb 18, 201113Year Member
Posts: 814
Reputation Power: 24
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
  • V5 Launch
Status: Offline
Joined: Mar 08, 201014Year Member
Posts: 3,544
Reputation Power: 206
Status: Offline
Joined: Mar 08, 201014Year Member
Posts: 3,544
Reputation Power: 206
Have to admit, he hid it for this long.

He's pretty good.
Jump to:
You are viewing our Forum Archives. To view or take place in current topics click here.