RATE Group | Alleged Silk Road Drug Dealer Arrested For Using Bitcoin For Money Laundering
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Alleged Silk Road Drug Dealer Arrested For Using Bitcoin For Money Laundering

24 Jul Alleged Silk Road Drug Dealer Arrested For Using Bitcoin For Money Laundering

Posted at 02:59h in Bitcoin News by

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Silk Road, a dark web drug market founded by Ross Ulbricht under the pseudonymous nickname “Dread Pirate Roberts” has had a critical impact on Bitcoin. While it’s associated with the dark web marketplace has forever left a stain on the crypto asset, Bitcoin may also not be where it is today if it didn’t catch on as the currency of choice for Silk Road, due to the layer of anonymity it provides.

Silk Road has now been defunct for going on over five years now, yet its still harming the reputation of Bitcoin and crypto, and its use in a money laundering case that has ties to Silk Road couldn’t have come at a worse time for the industry, as politicians and financial regulators look to demonize the crypto asset for its use in illicit criminal activity.

Ohio Man Used Bitcoin to Launder $19 Million in Silk Road Proceeds

Silk Road, a dark web marketplace named after an ancient network of trade routes in the Asian-Pacific region, has been out of business since 2014 when its…

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