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Silk Road trial shifts to focus to buyer and dealer experience

01/29, 2:52am

Online heroin dealer describes experience, made $60,000 or more per month

The trial of Ross Ulbricht in connection with the online BitCoin-fueled drug market known as Silk Road continued today with the testimony of a buyer-turned-dealer. Previously, the defense had attempted to suggest Ulbricht was framed, while the prosecution brought in an auditor to show that a chunk of Ulbricht's current reserve of BitCoins was obtained through Silk Road-related transactions.

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Researcher claims 20 percent of Ulbricht bitcoins came from Silk Road

01/20, 10:30pm

Transactions traced between Ulbricht, Silk Road Bitcoin accounts

The latest update in the trial of Ross Ulbricht's involvement with the controversial but now-closed Silk Road contraband market site involves Ulbricht's collection of bitcoins. A researcher who has audited the stash claims that approximately 20 percent of Ulbricht's bitcoin funds were transferred directly from Silk Road to his accounts, a transaction that would have been worth close to $3 million based on the value of the digital currency at the time.

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Silk Road trial: defense blames former Mt. Gox owner for 'set up'

01/15, 11:48pm

Karpeles, Ulbricht both deny being SR owner 'Dread Pirate Roberts'

Homeland Security special agent Jared Der-Yeghiayan took the stand recently in the trial of Ross Ulbricht, who stands accused of running a drug trafficking website called "The Silk Road" that operated for over two years, largely as a marketplace for illegal drugs, stolen data and other criminal activity. Under cross, the defense attempted to claim that former Mt. Gox chief Mark Karpeles was in fact the real owner, who went by the pseudonymous name "Dread Pirate Roberts."

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US Marshals holding second auction for Bitcoins seized from Silk Road

11/17, 2:27pm

Second auction selling 50,000 bitcoins valued at approximately $20M

The United States Marshals Service (USMS) will be holding a second Bitcoin auction, selling part of a collection seized during the take-down of Silk Road. The auction will involve the sale of 50,000 bitcoins, previously owned by Ross Ulbricht, with the current $400 value for each coin giving the entire collection a total worth of around $20 million when sold.

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US Marshals Service Silk Road Bitcoin auction process complete

06/28, 11:15am

Winners of seized property to be notified on Monday

The US Marshals Service has completed its auction of the Bitcoins it seized from the raid and shutdown of alleged online drug marketplace Silk Road. The 12-hour auction consisted of nine blocks of 3,000 bitcoin, and one block of 2,757 bitcoins. At current exchange rates, the auction was valued at $17.7 million dollars.

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US Marshals holding auction for 29,656 Bitcoins seized from Silk Road

06/13, 9:05am

Bitcoin pool seized during Silk Road takedown expected to fetch over $17M

The United States Marshals Service will be selling off the collection of Bitcoin it seized following the take-down of black-market drug site Silk Road. Almost 30,000 Bitcoins will be sold in the online auction on June 27th, with the pool estimated at current exchange rate prices to be worth a total of $17.91 million at the time of writing, down from the $27 million it was originally expected to fetch during initial reports of the sale in January.

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US Marshals preparing to dump $27M in Silk Road's seized Bitcoin?

01/17, 6:16pm

Agency said to be mulling auction

The US Marshals Service may soon be tasked with liquidating $26.5 million worth of Bitcoin that was seized last year during the Silk Road takedown. Federal prosecutors in New York recently finalized the forfeiture of 29,655 Bitcoins from the Silk Road servers, while another 144,336 Bitcoins--worth approximately $129 million--awaits formal forfeiture as the government proceeds with its prosecution of alleged Silk Road founder Ross William Ulbricht.

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