Silk Road Founder Arrested While Bitcoins Plummet

Silk Road Founder Arrested While Bitcoins Plummet

Bitcoins come in the news, between the closed down of Silk Road,a plummet in exchange rates, and a new site that is live-streaming.

It’s been quite a week for Bitcoins into the news; a whammy that is triple actually.

First, there was the arrest by the FBI of Silk path’s founder known online only by his handle ‘Dread Pirate Roberts’, but apparently understood to the feds a little more intimately as Ross William Ulbricht- therefore the seizure and power down of the Silk Road site itself. Silk Road was an exclusively Bitcoin gambling site, well-known to many being an open market for illegal drugs and more; the web site’s just under a million registered users were usually cash launderers, in line with the arrest warrant.

‘Based on my training and experience, Silk Road has emerged as the absolute most sophisticated and extensive marketplace that is criminal the web today,’ FBI Special Agent Christopher Tarbell noted within the complaint. Tarbell added that into the past 2 1/2 years, Silk Road generated some $1.3 billion worth of equivalent Bitcoin trades and netted $85 million in commissions for itself, usually for things as macabre as hiring hitmen, seeking out computer hackers or purchasing weapons that are illegal.

Major Rate Volatility Ensues

Meanwhile merely a few days after the shut down of the web site by the feds and the arrest of Ulbricht Bitcoins by themselves went through some Cat-5 volatility, when the rates fo Læs videre “Silk Road Founder Arrested While Bitcoins Plummet”