Tag Archives | Silk Road

Rebuilding the Silk Road

Flickr/CC.

Recently, Kofi Annan, former  secretary general of the United Nations, has said that the “repressive approaches to containing drugs have failed.”

And this could not be more true as Brian Anderson writes on Motherboard about how the Silk Road will never be shut down, since the Dread Pirate Roberts has made it possible to upload the site anew in just “15 minutes.”

It only took a month for the Silk Road 2.0 to go live after the now infamous Silk Road marketplace shuttered. One month. Should the budding deep-web bazaar experience the same fate as its predecessor, and be knocked out by authorities still whack-a-moling their way through the online front of the war on drugs, the Silk Road 3.0 would be up and running in 15 minutes, tops.

That’s according to the Dread Pirate Roberts, the pseudonymous head of SR 2.0. In what are arguably his most breathy public remarks to date the “new” DPR, who either cribbed his handle from the DPR of SR 1.0 fame or who is indeed the original DPR, opened up to Mike Power on his long-term vision for the site.

Read the rest

Continue Reading

Feds Arrest Alleged Owner of Online Drug Marketplace Silk Road

Silk Road’s Ross William “Dread Pirate Roberts” Ulbricht has been arrested and all his Bitcoin booty has been seized. Ulbricht is accused of attempting to hire a hitman to murder a possible snitch, among other things. silkroadlogo

Via Time:

U.S. law enforcement officials have shut down down Silk Road, the online drug market, following a raid and an arrest of Ross William Ulbricht, the site’s alleged proprietor.

According to a Justice Department release, Ulbricht, 29, was arrested in San Francisco and will be presented in San Francisco federal court Wednesday morning. Until Wednesday, the person who ran the site was known only by the pseudonym “Dread Pirate Roberts.”

In addition to arresting Ulbricht, the Federal Bureau of Investigation seized approximately $3.6 million in Bitcoin, making it the second biggest seizure in the digital currency’s history.

Federal prosecutors in New York charged Ulbricht with narcotics trafficking conspiracy, computer hacking conspiracy and money laundering conspiracy.

Read the rest

Continue Reading

Two Million Dollars a Month in Bitcoin Drug Sales

Photo: Satoshi (PD)

Via Ars Technica:

A recent Carnegie Mellon study sheds light on the Bitcoin-fueled economy of the internet’s underground drug bazaar Silk Road.

Silk Road is an online marketplace that uses Tor and Bitcoin to preserve the anonymity of all involved. The site itself is set up as a Tor hidden service, which makes it practically impossible to locate the site’s servers. And the use of Bitcoins prevents the authorities from identifying market participants by following the money.

Most of the items listed for sale are illegal drugs. To place an order, the buyer transmits the appropriate number of Bitcoins to the site operators, who hold the funds in escrow while the goods are shipped. Once the buyer confirms the product has arrived, the escrowed funds are released to the seller.

Christin began crawling Silk Road in November 2011. From February to July of this year, he attempted to crawl the site on a daily basis, yielding a wealth of data about activity on the site.

Read the rest

Continue Reading

Silk Road (The Website With Every Illegal Drug Imaginable For Sale) Is Hiring

Silk_Road_LogoAdrianne Jeffries notes that Silk Road is one hot startup, for BetaBeat:

No publicity is bad publicity: Silk Road, the illicit online marketplace that came to light after Gawker’s Adrian Chen announced you could buy any drug imaginable there with Bitcoins, has been booming after increased awareness due to a rash of alarmist press coverage.

Drugs! Anonymous currencies! Hackers! Our children! But gradually Silk Road, and to a lesser degree Bitcoin, faded from the stage, largely because most people couldn’t understand how to use them. Silk Road can only be accessed using the anonymous network Tor, and you should probably know a thing or two about encryption before you buy anything.

But as we learned via a few Bitcoining Betabeat readers, Silk Road is doing really well—well enough to expand its anonymous team. “Silk Road is currently hiring a database expert and a customer support team member,” writes one reader.

Read the rest

Continue Reading