Former police chief Yuri Zaitsev was recently sentenced to eight years in prison for acting as a bounty hunter for a dark web marketplace. In December 2018, Zaitsev was working as the leader of his unit within the Main Directorate for Drugs Control of the Republic of Khakassia — a law enforcement division analogous to the United States Drug Enforcement Administration, or DEA. At that time, he initiated contact with the operator of a darknet marketplace, offering to help hunt down a man who had appropriated drugs that were entrusted to him for placement in dead drops. In Russia, unlike …

Blockchain Center has compiled data for some of the biggest Bitcoin (BTC) hodlers — from the Winklevoss twins to various scammers and hackers, and even “zombie coins”. Allegedly, the twins own 150,000 BTC, which places them between the Bitfinex hackers, who own 120,000 BTC, and the Mt. Gox trustees who lay claim to 166,000 BTC. One spot above the latter is occupied by another notable scam — the Plus Token scammers, who allegedly hold 200,000 BTC. Tim Draper supposedly holds a paltry 30,000 BTC, which he acquired in a government auction of coins seized from Silk Road. "Zombie coins” are …

The ‘Free Ross’ movement has hired a billboard in New York’s Times Square as part of its campaign for the release of the Silk Road darknet market founder Ross Ulbricht. According to the Twitter account ‘Clemency for Ross’ the billboard will display the message and image for several months. The account emphasized that the billboard was funded by “a generous supporter” and not from donations to the site. Ulbricht is currently into his seventh year behind bars in a double life sentence. Without clemency he will never be released. ‘Free Ross’ billboard sprouts in Times Square Ulbricht, now 36 years …

Due to the transition of many people around the world into a “stay at home” mode, where the only viable way of communicating and receiving something is through the global network, some new information regarding darknet activity has begun to surface. In the time of COVID-19, there has been an increase in both the activity of cyber fraudsters using the capabilities of cryptocurrencies and general illegal activity on the World Wide Web. Of course, not all darknet operators are using the epidemic for malicious advantage, and comply with the code of honor. Nonetheless, Cointelegraph decided to figure out how Bitcoin …

April 28, New York State Department of Financial Services (NYSDFS) announced that it is adding a former Silk Road investigator as general counsel. The Department regulates financial services and products, which include cryptocurrency-related businesses. It awards the two types of licenses that many crypto businesses seek — a money transmitter license and a BitLicense. Previous experience: Silk Road, cryptocurrency, FIFA The announcement quotes the superintendent of financial services Linda A. Lacewell on the past achievements of the new general counsel Richard Weber: “Rich brings unquestioned integrity, legal acumen, and management experience to DFS. His extensive leadership experience and depth of …

Chainalysis held a webinar on April 15 to discuss the impact of COVID-19 on crypto crime. During this meeting, the company revealed that criminals claim to be selling coronavirus-infected blood on the darknet. COVID-19 hurts crypto criminals According to Chainalysis, darknet markets have not been immune to the adverse effects of the pandemic, with a 33% decline in the volume of cryptocurrency sent to scam addresses. Source: Chainalysis Cybercriminals have responded differently to the crisis. Some have shown restraint in following a self-imposed honor-code. Others have dropped to the new levels of amorality. A new low for the darknet In …

Court filings show that New York federal judge Jed Rakoff has rejected the request of a 61-year-old toy merchant-turned Silk Road vendor for a compassionate release amid the coronavirus pandemic that has claimed the lives of more than 10,000 New Yorkers. Judge Rakoff found that the inmate had failed to present an “extraordinary and compelling” case for his release on April 13. The former Silk Road vendor, Hugh Haney, had requested a temporary release on April 8. His representation, Martin Cohen, argued that the Manhattan Metropolitan Detention Center was on the verge of a severe COVID-19 outbreak — asserting that …

United States Federal District Judge Jed Rakoff is considering temporarily releasing a 61-year-old toy retailer-turned-Silk Road vendor amid concerns of a purportedly imminent COVID-19 outbreak in a federal jail. According to Law360 on April 8, the prisoner, Hugh Haney, is serving a three-and-a-half-year money-laundering sentence for failing to explain where he obtained $19 million in Bitcoins (BTC). While Judge Rakoff gave additional time to brief a bail request after an April 8 hearing, he described the motion for Haney’s compassionate release as “an argument for releasing every single person” in the facility. Judge considers Silk Road vendor's request for release …

Ross Ulbricht turns 36 years old today. This will be his seventh birthday in incarceration. Ulbricht is the convicted felon serving two life sentences plus 40 years for his role in creating the Silk Road, the online contraband market notorious for its associations with cryptocurrency. Ulbricht says Silk Road was initially envisioned as a libertarian paradise, but it eventually went sideways: “Silk Road was supposed to be about giving people the freedom to make their own choices, to pursue their own happiness, however they individually saw fit. What it turned into was, in part, a convenient way for people to …

A petition calling on the White House to release Ross Ulbricht, the creator of the dark web marketplace Silk Road, has gathered more than 275,000 signatures. FreeRoss.org — an initiative created by a group of Ulbricht’s family, friends and supporters — has said that the momentum continues to grow and that they feel that a solution “could come soon.” Through an update on the online petitions website released on March 19, FreeRoss.org claimed Ross is “doing fine”. They have also reported that visits were canceled for 30 days, as a preventive measure against the COVID-19 pandemic. The online petition hopes …

A senior adviser to the operator of the Silk Road dark web marketplace has pled guilty to one count of conspiracy to distribute narcotics in a Manhattan federal court. According to a United States Department of Justice press release dated Jan. 30, Roger Thomas Clark was a key figure in the development of Silk Road, advising on all aspects of the enterprise, and even attempting to arrange a murder-for-hire to protect its interests. Silk Road creator Ross Ulbricht described Clark, who used a number of online aliases such as “Variety Jones,” and “Plural of Mongoose,” as a “real mentor,” who …

Two well-known Bitcoin (BTC) figures have resorted to a painfully public Twitter exchange to settle an argument over a $20,000 unpaid bet. The heated debate, which is ongoing, revolves around a pledge which investor Ronnie Moas made in 2018. Moas redistributes Ross Ulbricht BTC If Bitcoin was not worth $28,000 by the end of last year, Moas said he would donate the lump sum to FreeRoss.org, the charity working to free jailed former Silk Road owner, Ross Ulbricht. The bet was made with Vinny Lingham, CEO of blockchain identity startup Civic. With BTC/USD trailing at $7,200 on Jan. 1, 2020, …