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Vizag Fintech Festival • October 22-26, 2018

The Vizag Fintech Festival 2018 is poised to be the nation’s largest Financial Technology event. The week-long event will take place from…

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Tag: Silk Road

Market Jittery as $1 Billion Worth of Bitcoin Rumored to Be Dumped

Category: Bitcoin, Commentary, Exchange, News

Market Jittery as $1 Billion Worth of Bitcoin Rumored to Be Dumped

The cryptosphere is agog with rumors about a bitcoin whale – someone controlling a significant amount of bitcoin – preparing to dump approximately $1 billion worth of bitcoin on the market. If it happens, such a move would almost certainly have a devastating effect on the price of bitcoin and other crypto assets in a market whose total capitalization is…

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British Columbia Claims $1.4 million in Bitcoin From Marijuana Dealer

Category: Bitcoin, Crime, News, Regulation

British Columbia Claims $1.4 million in Bitcoin From Marijuana Dealer

Canada’s British Columbia government is laying claim to $1.4 million in bitcoin from a mail-order marijuana dealer it managed to seize many years ago. Cryptocurrency Claim Gives Legitimacy to Industry The Government claimed that the mail-order marijuana dealer was a vendor on the notorious Silk Road website. According to The Star Vancouver, a local Canadian news site, the Government’s allegations…

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Silk Road Adviser Extradited to the USA After Using Cryptocurrency for Illegal Purposes

Category: Blockchain, News

Silk Road Adviser Extradited to the USA After Using Cryptocurrency for Illegal Purposes

The Manhattan US Attorney has announced the successful extradition of Canadian citizen Roger Thomas Clark from Thailand to face prosecution over his alleged role in the running of the now-defunct Silk Road darknet website which facilitated transactions of illegal drugs and weapons using Bitcoin. Operating from January 2011 to October 2013 when founder Ross Ulbricht was apprehended, Silk Road infamously…

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Authorities Blame Bitcoin for Rising Drug Usage, Fail to Consider Loopholes

Category: Bitcoin, Blockchain, News, Regulation

Authorities Blame Bitcoin for Rising Drug Usage, Fail to Consider Loopholes

Designed as a peer-to-peer, borderless, digital payment solution, bitcoin (BTC) continually finds itself shrouded in controversies, scams, uninformed media claims and, unfortunately, dark net marketplaces. Bitcoin’s Properties Make It a Perfect Darknet Currency Although bitcoin’s existence is that of a simple digital token, its misuse results in widespread legal crackdowns. Gangsters and darknet entrepreneurs increasingly use BTC to finance their…

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$25 Million Worth of Bitcoin to Be Auctioned Off by US Marshals

Category: Bitcoin, Finance, News, Regulation

$25 Million Worth of Bitcoin to Be Auctioned Off by US Marshals

There is a sale planned for March 19, 2018, in which the United States Marshals are aiming to auction almost $25 million in bitcoin (BTC). The sell-off would be a significant portion of their crypto stockpile accumulated in recent times. Expensive Seat at the Table: Auction Specifics They announced their plans for this auction on March 6, 2018, and detailed…

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Feds Miss Out Half a Billion Dollars from Silk Road Bitcoin Auction

Category: Bitcoin, News

Feds Miss Out Half a Billion Dollars from Silk Road Bitcoin Auction

On September 29, the acting Manhattan US Attorney announced that Ross Ulbricht forfeited the $48 million proceeds from the sale of bitcoin seized from the computers and devices of the Silk Road operator. While the auction of 144,336 bitcoin (worth $608.5 million at the time of writing) was conducted in 2014, the US Justice Department were not able to seize…

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Feature Interview: Lyn Ulbricht’s Candid Update On Her Son Ross

Category: Interviews

Feature Interview: Lyn Ulbricht’s Candid Update On Her Son Ross

In a 2015 legal case that sent shockwaves through the crypto world, Ross Ulbricht was sentenced to life in prison without parole for his role in creating and running the billion-dollar Silk Road online black market. Below in an interview for BTCManager, Ross’ mom Lyn provides a behind the scenes update on her son’s’ imprisonment as well as her “no…

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Ross Ulbricht’s Appeal Rejected, Judges Blast Drug Policy

Category: Bitcoin, Commentary, News, Regulation

Ross Ulbricht’s Appeal Rejected, Judges Blast Drug Policy

US Judges uphold Ross Ulbricht’s life sentence Reuters reported on May 31, as the self-confessed mastermind of the infamous Silk Road deep web marketplace lost an appeal to overturn his conviction. On May 31, 2017, the Court of Appeals in New York rejected the appeal, where Ulbricht’s lawyers argued that their client was not given a fair trial due to…

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US Marshall Service to Auction more than $1 Million in Bitcoin

Category: Bitcoin, Finance, News

US Marshall Service to Auction more than $1 Million in Bitcoin

The United States Marshall Service will be hosting another auction of bitcoin, worth around $1.6 million at current trading prices. Scheduled to occur on August 22nd in a 6-hour session from 8 a.m. to 2 p.m. EDT, the USMS have sent out notifications on their website Monday, August 8, 2016, giving interested bidders a two week notice. The bitcoin is…

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Former Silk Road Task Force Agent Sentenced to 71 Months in Jail

Category: News

Former Silk Road Task Force Agent Sentenced to 71 Months in Jail

Former U.S. Secret Service and Silk Road Task Force agent Shaun Bridges was sentenced 71 months in jail for money laundering, obstruction of justice and fraud. In addition to his sentence, US District Judge Richard Seeborg asked the court to seize around US$500,000 worth of funds from his brokerage, trust & securities and a PNC bank account. “This, to me,…

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