RATE Group | Silk Road drug dealer laundered $19M in profits with Bitcoin
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Silk Road drug dealer laundered $19M in profits with Bitcoin

09 Nov Silk Road drug dealer laundered $19M in profits with Bitcoin

Posted at 12:53h in Cryptocurrency News by

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A Silk Road trader pleaded guilty to laundering over $19 million worth of profits with Bitcoin BTC after using the notorious marketplace to sell drugs.

Hugh Brian Haney, who pleaded guilty in Manhattan federal court earlier this week, was found to be a high-ranking member of Pharmville — a prominent narcotics vendor on the dark web — after law enforcement searched his home in Ohio last year.

Additionally, agents found a computer that housed a document entitled “HBD daily to-do list,” which referred to Pharmville.

In 2017 and 2018, Haney sent his Bitcoin earnings from an address connected to Silk Road, to an account he had with a cryptocurrency exchange.

In correspondence with the exchange, Haney claimed he had legitimately earned Bitcoin through mining and trading, but it actually derived from his activity on Silk Road.

U.S. Attorney Geoffrey S. Berman said:  “Hugh Haney used Silk Road as a means to sell drugs…

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