Silk Road owner, Ross Ulbricht, charged with King Pin charges

Casey Nolan

by - | 3 years ago
Comments [ 0 ]

10 Feb

Infinarium Rating

Average User Rating

1 Star2 Stars3 Stars4 Stars5 Stars
2 User Reviews
Loading...

Silk Road founder and CEO pic - UlbrichtSilk Road has been a long gone story by now. We all remember the online network as the biggest black market for drug dealers. To be honest, it wasn’t until last year that I came to know about the website. A friend of mine was hooked on to heroin; he told me about it and that’s the whole thing.

Since last October, trials have been running against Ross Ulbricht, Silk Road founder and CEO. While the authorities are against the poor bastard, a majority of folks have taken sides with him. New York’s Preet Bharara made an announcement concerning Mr. Ulbricht’s sentencing by saying that he “could now face a minimum of 30 years in prison.

Why so? If you must know, depending on the volume of Silk Road’s operation, and over $1 Billion in revenue. All of this adds up to king pin charges, which is why Ross is facing decades of prison time.

According to law making officials king pin charges are usually meant for drug lords, cartel and mafiosos. Since Ross was heading a network with a gigantic profit stream and users who were independently selling drugs in bulk through the site’s account management system, it all boils down to serious consequences.

The U.S. Department of Justice and Homeland Security claims that Silk Road had more than 100,000 active users; all of them buying and selling drugs. The website had categories for different types of drugs, such as but not limited to:

  • Ecstacy
  • Cannabis
  • Opioids
  • Psychedelics
  • CNS Stimulants

In one of the recent statements, the DoJ writes, “Silk Road emerged as the most sophisticated and extensive criminal marketplace on the Internet, serving as a sprawling black-market bazaar where unlawful goods and services, including illegal drugs of virtually all varieties, were bought and sold regularly by the site’s users.

While in operation, Silk Road was used by several thousand drug dealers and other unlawful vendors to distribute hundreds of kilograms of illegal drugs and other unlawful goods and services to well over a hundred thousand buyers, and to launder hundreds of millions of dollars deriving from these unlawful transactions.”

The 29 year old Ross Ulbricht’s official arrest warrants were released prior to October 1, 2013. The arrest was made on October 1. Months before his arrest, the FBI’s computer forensics teams started sending loads of bogus traffic to the website to create  a bottleneck issue for real users. Eventually, the network crammed down in terms of performance.

Users started complaining about poor performance issues. Also, a small portion of their online transactions wouldn’t go through because of a “high volume of traffic load on servers.” The Silk Road transactions were conducted in BitCoins; the one and only virtual currency on the internet these days.

Here’s the ironic thing: ever since the Federal Bureau of Investigation decorated the main Silk Road website with the official seizure notice, Silk Road 2.0 has been known to come into existence. As of now, the revamped version is actively partaking in same activities where its predecessor took off.

In case you have purchased or sold anything at Silk Road, feel free to leave a comment with a fake user name. We just want to hear about your experiences. 

This entry was posted on Monday, February 10th, 2014 at 7:17 AM and is filed under Latest News, National News. You can follow any responses to this entry through the RSS 2.0 feed.

Casey Nolan

About Casey Nolan

Hello everyone, I am Bilal Malik AKA 'Casey Nolan'; Head Editor and owner of 'Infinarium.Com'. For product reviews, article requests, recommendations, or if you just want to get something off your chest, send me an email at techguy@infinarium.com.

Join the Conversation

Log In or Create an Account to post a comment, or quickly Sign In with

Top Categories

Top Reviews

LG Hbs 760 vs. LG HBS 770 Tone Pro ̵...

Updated on : 4 months ago

Should I buy B&O H8 Wireless Beopla...

Updated on : 5 months ago

‘Daily Brain Puzzle’ is a su...

Updated on : 5 months ago

Infinarium TV

NVIDIA SHIELD – The Console Killer?

Top Headlines

Archives

WP-Backgrounds Lite by InoPlugs Web Design and Juwelier Schönmann 1010 Wien