silk road

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$3.36B in Bitcoin Hidden in Bathroom

The Department of Justice has found $3.36 billion of stolen money in a popcorn tin. But more than $2 billion of it no longer exists. It's not a case of corrupt law enforcement, but rather a spectacular example of the bizarre world of cryptocurrency. ... It raises head scratching questions about what money really is in 2022. The money was seized in a raid of the home of James Zhong. He's now admitted to stealing it in a hacking attack on the controversial online marketplace Silk Road. That's a site where goods and services, many of them illegal, were bought and sold using cryptocurrency. Bogus ... (view more)

John Lister's picture

US Government to Auction Virtual Currency

US Marshals are to auction off almost 30,000 Bitcoins, a controversial "virtual currency." The coins have a current market value of around $18 million dollars. The government confiscated the virtual currency when it raided an underground online ... trading site named Silk Road. Silk Road was not part of the ordinary World Wide Web, and could only be accessed using special web browser software. That made it extremely difficult to trace anyone using the site and their activity. The site was well known in the digital underground community for buying and selling services of both a legal and ... (view more)

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