What Ross Ulbricht’s ‘life in prison’ sentence means to illegal online retail and Bitcoin By Maria Santos Last updated on January 2, 2018 at 00:00 3 Comments Ross Ulbricht, the mastermind responsible for creating and running the illegal drug marketplace Silk Road , was sentenced to life in prison on Friday (29th). This was the biggest Bitcoin seizure up till that point. The person behind the operation, Ross William Ulbricht, was discovered responsible of drug trafficking and sentenced to life in jail for his position within the creation of this decentralized market. Many imagine this sentence was too harsh and that he was charged because the sellers and never because the market place developer. Ross ... Silk Road owner Ross William Ulbricht has allegedly been arrested with reports also claiming the online black market has been shut down by the feds. The platform’s founder, Ross Ulbricht, is currently facing two life sentences without the possibility of parole after he was found guilty of money laundering, hacking, and conspiracy to sell ... Over the weekend Bitcoin entrepreneur Roger Ver set the Cryptosphere on fire when he announced that he was going to donate $10 for every retweet he received about his support for accused Silk Road mastermind Ross Ulbricht.Ulbricht, according to the US government, was the mysterious Dread Pirate Roberts, owner and chief administrator of the notorious Dark Market that helped put Bitcoin on the map. The U.S. Department of Justice (DOJ) shut down the infamous Silk Road darknet marketplace back in 2013, yet the saga — which has been intricately linked with bitcoin (BTC) since it was the platform’s currency of choice — continues to thicken.. That’s because earlier this week, the fourth-largest bitcoin wallet moved 69,369 bitcoins — roughly $1 billion USD at the time — and sent ... Ross Ulbricht attorney, Paul Grant, refers to stipulation of federal government seizure as a "sad day for justice" and a "boon for the federal government's on-going war against privacy and civil ... On February 4th, Ross Ulbricht was found guilty and convicted of owning and operating the online drug marketplace Silk Road. On hearing evidence brought by the FBI and DHS, a jury took less than three hours to find Ulbricht guilty of all seven charges levied against him. These charges include Narcotics trafficking conspiracy, running a criminal enterprise, computer hacking conspiracy, and ... Ross Ulbricht also noted that bitcoin could break its previous all-time high sometime in 2020. Bitcoin continues to hover around $7,000. At the time of writing bitcoin is changing hands at just above $7,000 mark. The short term prediction for bitcoin is still bearish. Recently, bitcoin fell to a six-month low after it traded below $7,000 for a ... The seizure on Tuesday, tied to early darknet market Silk Road, is the largest the U.S. has ever conducted, Bloomberg said, citing the DOJ. Court documents reveal the seized funds include over 69,370 bitcoin and nearly equivalent amounts of forked cryptos bitcoin cash (BCH), bitcoin gold (BTG) and bitcoin satoshi vision (BSV).
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