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The Farmer's Market was a Tor site similar to Silk Road, but which did not use bitcoins. [97] It has been considered a 'proto-Silk Road' but the use of payment services such as PayPal and Western Union allowed law enforcement to trace payments and it was subsequently shut down by the FBI in 2012.
Last month, blockchain analytics firm Arkham Intelligence pointed out that crypto wallets known to be owned by the U.S. government moved $1.9 billion worth of Silk Road Bitcoin to crypto exchange ...
The Silk Road demonstrated that, with bitcoin, you could buy things on the internet by circumventing payment rails that the government controlled. Online trade had become virtually unstoppable.
The Silk Road website relied on the Tor network to communicate anonymously and accepted bitcoin as payment, which prosecutors said allowed users to conceal their identities and locations.
Ross William Ulbricht (/ ˈ ʊ l b r ɪ k t /; born March 27, 1984) [1] is an American who created and operated the darknet market Silk Road from 2011 until his arrest in 2013. Silk Road was an online marketplace that facilitated the trade in narcotics and other illegal products and services.
James "Jimmy" Zhong (born May 24, 1990) is an American man who was convicted in 2022 for stealing over 51,680 bitcoin (then worth about $620,000; [2] value as of 2023 approximately $3.4 billion [3]) from the online black market Silk Road between 2012 and 2014. [4]
NEW YORK (Reuters) -The United States is seeking the forfeiture of more than $1 billion in Bitcoin stolen from the Silk Road online marketplace, federal prosecutors in Manhattan said on Monday.
Within hours of the seizure a third incarnation of the site appeared, 'Silk Road 3.0'; Silk Road had previously been seized in October 2013, and then resurrected, weeks later, as 'Silk Road 2.0'. [9] $1 million in Bitcoin was seized, along with €180,000 in cash, gold, silver and drugs. [10]
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