Thursday, 22 January 2015

The Silk Road trial - Bitcoin buccaneers


From The Economist –

“Most internet entrepreneurs dream of transforming an industry. On January 13th, one who may have done just that went on trial in federal court in Manhattan, accused of drug-trafficking, money-laundering and operating a criminal enterprise. Ross Ulbricht, a 30-year-old Texan physics graduate, is accused of being “Dread Pirate Roberts”, the founder and administrator of the Silk Road. This was the first website to make it possible to buy and sell illegal drugs online openly and with relative anonymity. His trial will raise questions not only about the extent and nature of cybercrime, but also about the limits of government snooping necessary to prevent it.”

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