NY US Attorney: $28M in bitcoins seized

Published October 26, 2013
— File Photo
— File Photo

New York - 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.

US Attorney Preet Bharara (buh-RAH'-ruh) 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.

Opinion

Who bears the cost?

Who bears the cost?

This small window of low inflation should compel a rethink of how the authorities and employers understand the average household’s

Editorial

Internet restrictions
Updated 23 Dec, 2024

Internet restrictions

Notion that Pakistan enjoys unprecedented freedom of expression difficult to reconcile with the reality of restrictions.
Bangladesh reset
23 Dec, 2024

Bangladesh reset

THE vibes were positive during Prime Minister Shehbaz Sharif’s recent meeting with Bangladesh interim leader Dr...
Leaving home
23 Dec, 2024

Leaving home

FROM asylum seekers to economic migrants, the continuing exodus from Pakistan shows mass disillusionment with the...
Military convictions
Updated 22 Dec, 2024

Military convictions

Pakistan’s democracy, still finding its feet, cannot afford such compromises on core democratic values.
Need for talks
22 Dec, 2024

Need for talks

FOR a long time now, the country has been in the grip of relentless political uncertainty, featuring the...
Vulnerable vaccinators
22 Dec, 2024

Vulnerable vaccinators

THE campaign to eradicate polio from Pakistan cannot succeed unless the safety of vaccinators and security personnel...