Silk Road

News & Analysis as of

Bitcoin – real, virtual or illegal currency?

The news about the indictment of Charlie Shrem, the former vice president of Bitcoin Foundation, and Robert Faiella in the US because of their potential involvement in the laundering of more than $ 1 million bitcoin on the...more

Will Legal Reform Kill the Bitcoin?

For two decades, during the 1620s and 1630s, Europe fell into the grip of “tulip mania.” At its peak in 1637, tulip bulbs were sold for more than 10 times the average worker’s annual income—enough to buy a house. Within...more

Bitcoins and Liability in the Wake of Recent Silk Road Arrests

Last week’s arrests of Robert Faiella, an alleged seller on online marketplace Silk Road, and Charlie Shrem, the CEO of the startup BitInstant, marked a recent round in a series of law enforcement actions against what the...more

Federal Prosecutors Unseal Charges Against Bitcoin Exchange Company

On January 27, the U.S. Attorney for the Southern District of New York announced the unsealing of criminal charges against an underground Bitcoin exchanger and the CEO of a Bitcoin exchange company registered as a money...more

28 Million Dollars in Bitcoins Deemed Forfeited to the U.S. Government

The United States Attorney's Office for the Southern District of New York announced the forfeiture of approximately 29,655 Bitcoins in connection with the seizure of the Silk Road website....more

More fallout from Silk Road

Another set of Bitcoin-related arrests for failing to comply with the Bank Secrecy Act. Interestingly, investors in one of the companies include the Winkelvoss twins. Anyone who is involved in Bitcoin or other virtual...more

Bitcoin CEO Indicted for Silk Road Laundering

Bitcoin CEO indicted! The U.S. Attorney for New York has issued a criminal indictment of two top officials of Bitcoin Exchange Company who are alleged to have participated in a scheme to launder bitcoins used in Silk Road...more

The Flip Of A Coin: Alternative Currencies

Deep Web, Bitcoin, Silk Road…together, what might these words mean? Bitcoin is an open-source alternative currency that can often be used without revealing your identity....more

End of the Road: Harsh Penalties for Drug Possessors

While technological advances have made shopping and communicating easier, they have also created black markets on the Internet where illegal drug transactions occur with a mouse click. These online criminal interactions not...more

Virtual Currency Year-In-Review: Bitcoin and Beyond

Bitcoin and other decentralized, math-based virtual currencies emerged in 2013 as nascent challenges to traditional payment systems, drawing widespread public attention, venture capital investment, and regulatory scrutiny....more

Bitcoin - Virtual Currency of the Future? - Part Two

“Virtual currencies”, and bitcoin in particular, have recently received much attention from law enforcement agencies, the business community, the financial sector and government authorities, all of which are trying to...more

The Dark Web, Bitcoins & Reincarnation

Brandaide recently reported that the self-styled “Amazon or eBay of illegal drugs,” the Silk Road Anonymous Market, was back in business. This was following a DDOS (‘distributed denial of service’) attack on the site. The...more

Bitcoin And The Silk Road

The advent of the Internet is not all positive – criminals like to use the Internet and they are very good at doing so. The same might be said for Bitcoin, the new raging virtual currency....more

Government Brings Important Case Against Illegal Marketplace “Silk Road;” Government Acknowledges Lawful Uses Of Bitcoin

The virtual currency industry is in the news once again following the October 1, 2013, Federal Bureau of Investigation’s shutdown of the “Silk Road” website. As part of the shutdown of the well-known underworld bazaar, the...more

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