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Silk Path Founder Arrested While Bitcoins Plummet

Silk Path Founder Arrested While Bitcoins Plummet

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

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

First, there was the arrest by the FBI of Silk Road’s founder known online only by their handle ‘Dread Pirate Roberts’, but apparently known to the feds only a little more intimately as Ross William Ulbricht- as well as the seizure and shut down of this Silk Road web site itself. Silk path had been an exclusively Bitcoin site that is gambling well-known to many being an available market for illegal drugs and much more; the site’s slightly below a million registered users were frequently money launderers, in line with the arrest warrant.

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

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 themselves went through some Cat-5 volatility, as soon as the rates for the digital currency dropped from $139 per Bitcoin to $109.71 per Bitcoin in only under three hours. 继续阅读Silk Path Founder Arrested While Bitcoins Plummet