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Silk Road Pirate Leader Convicted in Federal Criminal Trial

Dread Pirate Roberts, Leader of the Silk Road, Convicted on All Federal Charges in Federal Criminal Trial In a first-of-its-kind federal lawsuit, the former Dread Pirate Roberts, creator of the illegal trafficking website The Silk Road, has been convicted on all seven federal charges in a federal criminal trial. Ross Ulbricht, 30, went by the online handle “Dread Pirate Roberts,” and created the notorious Deep Web trading site, The Silk Road, which also spawned the radical online-only currency, BitCoin. The Silk Road, which Ulbricht called … [Read more...]

Silk Road Federal Criminal Trial Begins

Silk Road Owner’s Federal Criminal Trial for Trafficking and Other Charges Has Begun The notorious Deep Web trafficking website, the Silk Road, was seized by federal investigators in October 2013, after the 29-year-old founder was arrested on serious federal criminal charges for murder-for-hire, drug trafficking, and others. After more than a year of waiting, the Silk Road founder’s trial began on January 13th. Ross William Ulbricht, 30, stands accused of operating the “Deep Web” site, the Silk Road, an online bazaar that sold everything … [Read more...]

DEA Confiscates Digital Currency BitCoins After Drug Bust

BitCoins Taken in Federal Drug Bust In the first case of its kind, a Charleston man had his electronic currency, known as BitCoins, seized by federal authorities in relation to a drug bust in April. This is the first time ever that the federal government has seized, as an asset, electronic currency. The US Drug Enforcement Agency recently posted a forfeiture notice indicating that they had seized 11.02 BitCoins - $814 - from 31-year-old Eric Daniel Hughes, for allegedly violating the Controlled Substances Act. Hughes has not yet received … [Read more...]