08 Jul '13, 6pm

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

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

As the case of the U.S. Drug Enforcement Agency’s first seizure of Bitcoins unfolds, the future looks bleak for the controversial online drug marketplace Silk Road. According to a notice posted by the agency, the DEA seized 11.02 BTC, worth about $814, from a 31-year-old South Carolina man, Eric Daniel Hughes, for violating the Controlled Substances Act on Silk Road. Little else is yet known for certain about the case. But since news of the seizure broke, several parties have begun trying to piece the details together. The Charleston Post and Courier reported yesterday that Charleston police have also moved on Hughes—alias “Casey Jones”—charging him with distributing marijuana and prescription pills after a June 5 raid on his apartment. It is unclear whether the Bitcoin seizure occurred in connection with these substances. The Controlled Substances Act regulates everything...

Full article: http://www.dailydot.com/crime/dea-bitcoin-drug-seizure-si...

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