02 Oct '13, 6pm

Breaking bad, the Bitcoin addition by @MattGoldstein26

It wasn’t too long ago that Ross William Ulbricht was writing his master’s thesis for a degree in chemical engineering. Now the 29-year-old San Franciscan is looking at spending many years in jail after being arrested by federal authorities on a variety of drug trafficking charges. The purported founder of Silk Road, the notorious drug trafficking website, was arrested Tuesday by the FBI and appeared in a San Francisco federal court on Wednesday. A bail hearing was set for Friday. Silk Road, an online marketplace where more than 900,000 registered users bought and sold everything from cocaine to heroin to molly (aka the new ecstasy craze) was shut down after roughly three years in operation. Reuters reporter Emily Flitter spoke to Ulbricht’s parents in Austin, Texas, and the couple not suprisingly seemed shocked by the allegations against their son. Said Ulbricht’s mother,...

Full article: http://blogs.reuters.com/unstructuredfinance/2013/10/02/b...

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