27 Jul '12, 7pm

Australian cops tout arrest of man for Bitcoin drug deal

Two Australian law enforcement agencies are crowing about their arrest of a man who attempted to import illicit drugs into Australia using the online drug marketplace Silk Road. In a press release brought to our attention by CSO , the Australian Federal Police (AFP) and the Australian Customs and Border Protection Service warn Australians that users of Silk Road and services like it "will not always remain anonymous and when caught, they will be prosecuted." Silk Road uses two cryptographic technologies to shield itself from law enforcement scrutiny. The site is only available on Tor, the cryptographic network that obfuscates the source and destination of Internet traffic. And payments are only accepted using Bitcoin, a cryptocurrency whose peer-to-peer design makes it difficult for governments to regulate or monitor. “Criminals are attempting to exploit the international ...

Full article: http://arstechnica.com/tech-policy/2012/07/australian-cop...

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