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Jessica Roy
Time
October 3, 2013
U.S. law enforcement officials have shut down down Silk Road, the online drug market, following a raid and an arrest of Ross William Ulbricht, the site’s alleged proprietor.
According to a Justice Department release, Ulbricht, 29, was arrested in San Francisco and will be presented in San Francisco federal court Wednesday morning. Until Wednesday, the person who ran the site was known only by the pseudonym “Dread Pirate Roberts.”
In addition to arresting Ulbricht, the Federal Bureau of Investigation seized approximately $3.6 million in Bitcoin, making it the second biggest seizure in the digital currency’s history.
Federal prosecutors in New York charged Ulbricht with narcotics trafficking conspiracy, computer hacking conspiracy and money laundering conspiracy. A criminal complaint also alleges that in March 2013, Ulbricht engaged in a “murder-for-hire” scheme where he enlisted one Silk Road user to murder another Silk Road user who was threatening to release the identities of all of the website’s users.
