After being found guilty of seven criminal counts, including drug trafficking and money laundering, Ross Ulbricht, the mastermind behind the illegal online marketplace known as Silk Road, was sentenced to life in prison by Judge Katherine Forrest.
If federal prosecutors have their way, Ross Ulbricht, the mastermind behind Silk Road, will be sentenced to an extremely long prison term: we’re talking 20 years at the very minimum.
According to the New York Times, the prosecution handling the case has opted not to seek a life sentence for Ulbricht, but will instead try to convince the presiding judge that Ulbricht deserves a sentence that is “substantially above the mandatory minimum of 20 years.” Three months ago, a jury convicted the 30-year old Ulbricht on seven criminal counts, including narcotics trafficking and money laundering.
Imagine how much easier life might have been for Breaking Bad’s Walter White if he could have laundered his meth money through Bitcoin instead of setting up a carwash as a cover business? Wired reports that attorney Joshua Dratel, who is representing the alleged founder of online drug den Silk Road, is arguing that his client couldn’t be guilty of money laundering because all of his alleged transgressions were done with Bitcoin, which the Internal Revenue Service recently said was not a currency. More →
The rabbit hole that is the Internet goes much deeper than most people know. In fact, the World Wide Web as we know it represents just 4% of networked web pages — the remaining 96% of pages make up what many refer to as the “Invisible Internet,” “Invisible Web” or “Deep Web.” This massive subsection of the Internet is 500 times bigger than the visible Web and is not indexed by search engines like Google. More →
Buying and selling illegal drugs on the Internet using a virtual currency isn’t as fun as it used to be. The Associated Press, via NPR, reports that law enforcement officials in the United Kingdom, Sweden and the United States have arrested eight more individuals who have connections to Silk Road, the now-shuttered online drug den that accepted digital currency Bitcoin as a form of payment. The AP says that “most if not all the arrests took place within a couple of days of last week’s capture of Silk Road’s alleged mastermind, Ross Ulbricht, in San Francisco,” which likely means that they have enough evidence to unravel the entire drug ring just from data they seized during the initial raid.