08 Jul '13, 2am

The (apparently) first #bitcoin seizure for drug trafficking. Will be interesting to see developments.

In a case believed to be the first of its kind, federal authorities have seized a Charleston man's virtual currency due to an alleged drug law violation with possible links to a shadowy online black market. What are Bitcoins? Bitcoins are a digital currency that function like Internet cash. They allow for rapid, anonymous peer-to-peer transactions at low or no cost, without the need for a bank or middleman. Like cash, Bitcoin transactions are not reversible. They are traded worldwide and can be purchased through online exchanges. Sources: Bitcoin Foundation, Bitstamp The U.S. Drug Enforcement Administration recently posted a forfeiture notice indicating that agents had seized 11.02 Bitcoins worth $814 from 31-year-old Eric Daniel Hughes for allegedly violating the federal Controlled Substances Act. No other details were provided. PDF Silk Road Study The seizure appears to ...

Full article: http://www.postandcourier.com/article/20130707/PC16/13070...

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DEA agents seize 11.02 bitcoin in alleged drug ...

postandcourier.com 07 Jul '13, 5pm

In a case believed to be the first of its kind, federal authorities have seized a Charleston man's virtual currency due to...

Bitcoin

postandcourier.com 07 Jul '13, 1pm

In a case believed to be the first of its kind, federal authorities have seized a Charleston man's virtual currency due to...

Federal authorities seized #Bitcoin in Drug bust #Security

Federal authorities seized #Bitcoin in Drug bus...

news.thehackernews.com 07 Jul '13, 2pm

are a digital currency that function like Internet cash. Believed to be the first of its kind, Federal authorities have se...

Is the DEA closing in on online drug marketplace Silk Road? via @dailydot

Is the DEA closing in on online drug marketplac...

dailydot.com 08 Jul '13, 6pm

As the case of the U.S. Drug Enforcement Agency’s first seizure of Bitcoins unfolds, the future looks bleak for the contro...

First ever Bitcoin bust: Feds seize electronic currency 'in connection to ... - Daily Mail #bitcoin

First ever Bitcoin bust: Feds seize electronic ...

dailymail.co.uk 07 Jul '13, 8pm

Dubbed by some as the 'eBay of drugs,' Silk Road is an online, peer-to-peer marketplace for every drug imaginable. Instead...

An upstart digital currency concept solves one of Bitcoin's most obvious flaws

An upstart digital currency concept solves one ...

businessinsider.com 09 Jul '13, 1pm

But some say one in particular has received scant attention: "mining" the currency requires solving random equations that ...

U.S. feds make their first-ever Bitcoin seizure

U.S. feds make their first-ever Bitcoin seizure

io9.com 29 Jun '13, 4pm

It may be the currency of the future, but it now appears that Bitcoin is not immune to the U.S. government's prying eyes a...

U.S. feds make their first-ever Bitcoin seizure

blacklistednews.com 29 Jun '13, 9pm

Source: IO9 It may be the currency of the future, but it now appears that Bitcoin is not immune to the U.S. government's p...