Feds Near Silk Street Arrest Owner Steal 26 000 Bitcoins

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Besides leaving a lot of sad drug customers in the bust's wake, the Buy Bitcoins took a hit after the news of the federal bust was released online. The electronic cash went from a high of $141 to beneath $120 today.

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On Oct. 2, U.S. legislation enforcement companies shut down "Silk Street," an anonymous Internet market on the Tor encrypted network. They arrested its alleged owner, Ross William Ulbricht, 29, in San Francisco on Oct. one, and seized 26,000 Buy Bitcoins s from him, the largest bitcoin seizure in history. The Bitcoins had a market worth at the time of $3.two million.

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