04 Oct '13, 8pm

Silk Road Kingpin Apparently Hid a Stash of $80 Million in Bitcoin

Ross Ulbricht, the recently arrested mastermind behind Silk Road, appeared in court today where his lawyer begged for more time before the detention hearing. The judge said he didn't "know what you're going to accomplish in the next several days." Maybe move some of his massive stash of hidden Bitcoin? Forbes ' Kashmir Hill just published details about the fate of the 26,000 Bitcoin that the FBI seized from Silk Road when they shut it down. At the time of the arrest, that was $3.6 million worth of the crypto currency, but it's pennies compared to what Ulbricht apparently stashed away as commission. Hill reports : The spokesperson says the approximately 26,000 Bitcoins seized are just the ones that were held in Silk Road accounts. In other words, it’s Silk Road users’ Bitcoin. The FBI has not been able to get to Ulbricht’s personal Bitcoin yet. “That’s like another $80 mill...

Full article: http://gizmodo.com/silk-road-kingpin-apparently-hid-a-sta...

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