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Silk Road Founder Arrested While Bitcoins Plummet

Montag, Februar 10th, 2020

Silk Road Founder Arrested While Bitcoins Plummet

Bitcoins are in the news, between the closed down of Silk Road,a plummet in exchange rates, and a new live-streaming site.

It’s been a serious week for Bitcoins in the news; a triple whammy, actually.

First, there was the arrest by the FBI of Silk Road’s founder known online only by their handle ‚Dread Pirate Roberts‘, but apparently understood to the feds only a little more intimately as Ross William Ulbricht- plus the seizure and turn off of the Silk Road web site itself. Silk Road was an exclusively Bitcoin site that is gambling well-known to numerous as an available market for illegal drugs and much more; the web site’s just below a million registered users were usually money launderers, based on the arrest warrant.

‚Based on my training and experience, Silk Road has emerged as the most advanced and extensive criminal marketplace on the web today,‘ FBI Special Agent Christopher Tarbell noted into the complaint. Tarbell added that in the past 2 1/2 years, Silk path generated some $1.3 billion worth of comparable Bitcoin trades and netted $85 million in commissions for itself, often for things as macabre as employing hitmen, looking for computer hackers or buying illegal tools.

Major Rate Volatility Ensues

Meanwhile just a few days after the shut down of the web site by the feds and the arrest of Ulbricht Bitcoins themselves went through some Cat-5 volatility, whenever rates for the digital currency dropped from $139 per Bitcoin to $109.71 per Bitcoin in only under three hours. (mehr …)