7/29/2014

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Technology

NY US Attorney: $28M in bitcoins seized from 'Silk Road'

NY US Attorney: $28M in bitcoins seized from 'Silk Road'
This frame grab from the Silk Road website shows thumbnails for products allegedly available through the site.
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NEW YORK (AP) — The United States Attorney in New York says about $28 million worth of bitcoins have been seized from a man charged with operating a notorious online drug marketplace known as Silk Road.

U.S. Attorney Preet Bharara said Friday more than 144,000 bitcoins were found on computer hardware belonging to Ross William Ulbricht.

Federal authorities in New York have charged Ulbricht with three felonies related to the operation of the website. He was sent to New York from California earlier this month.

The federal public defender who represented Ulbricht in California declined to comment. His New York attorney didn't immediately return messages.

Silk Road gained notoriety as a black market bazaar where drugs could be bought and sold using bitcoins, a form of online cash.
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