Ross William Ulbricht | Breaking Cybersecurity News | The Hacker News

An Irish national who helped run the now-defunct dark web marketplace Silk Road pleaded guilty on Friday to drug trafficking charges that carry a maximum sentence of 20 years in prison. Gary Davis , also known as Libertas, was one of the site administrators and forum moderators for Silk Road, then-largest underground marketplace on the Internet used by thousands of users to sell and buy drugs and other illegal goods and services. Silk Road went down after the law enforcement raided its servers in 2013 and arrested its founder Ross William Ulbricht , who has been sentenced to life in prison after being convicted on multiple counts related to the underground drug marketplace. The FBI also seized Bitcoins (worth about $33.6 million, at the time) from the website. Those Bitcoins were later sold in a series of auctions by the United States Marshals Service (USMS). According to a press release published by US Department of Justice, Davis helped the black market website "r

In last October, the Feds told they would probably just  liquidate the bitcoins  seized from the online black market Silk Road, once they were legally free to do so. Finally the United States District Judge  J. Paul Oetken   signed off  on the forfeiture order for the Bitcoins, clearing the government to sell the assets. Last September, the FBI had seized  29,655 Bitcoins from the online black market Silk Road after its alleged 29-year-old mastermind, Ross William Ulbricht , aka ' Dread Pirate Roberts ' was arrested and charged with possessing controlled substances and committing or conspiring to commit computer hacking offenses, among other charges. This new ruling represents the largest-ever forfeiture of Bitcoins . The assets include the Silk Road hidden website and 29,655 Bitcoins , worth more than $28 Million according to current exchange rates. Manhattan U.S. Attorney Preet Bharara said: "With today's forfeiture of $28 million worth of Bitcoins fr

The introduction of Open AI's ChatGPT was a defining moment for the software industry, touching off a GenAI race with its November 2022 release. SaaS vendors are now rushing to upgrade tools with enhanced productivity capabilities that are driven by generative AI. Among a wide range of uses, GenAI tools make it easier for developers to build software, assist sales teams in mundane email writing, help marketers produce unique content at low cost, and enable teams and creatives to brainstorm new ideas.  Recent significant GenAI product launches include Microsoft 365 Copilot, GitHub Copilot, and Salesforce Einstein GPT. Notably, these GenAI tools from leading SaaS providers are paid enhancements, a clear sign that no SaaS provider will want to miss out on cashing in on the GenAI transformation. Google will soon launch its SGE "Search Generative Experience" platform for premium AI-generated summaries rather than a list of websites.  At this pace, it's just a matter of a short time befo

Two most important moments in the history of Bitcoin are : Its creation by Satoshi Nakamoto , and the burst of The Silk Road's Founder  Ross William Ulbricht . The silk Road's black market was a Bitcoin economy. According to a report published by two Israeli computer scientists,  Ross William Ulbricht , aka Dread Pirate Roberts , may be financially linked to Satoshi Nakamoto. Even if the Bitcoin buyers and sellers remained anonymous, but the transactions themselves are public, So the scientists were able to trace the interactions. The Scientists, Ron and Shamir were exploring the connection between the operator of Silk Road who was recently arrested by the FBI for running the Internet blackmarket Silk Road and the entity that invented the bitcoin. The bitcoin network was established in 2008 and it has been popularly believed that the first accounts in the early days of the bitcoin were of Satoshi Nakamoto , accumulated some 77,600 BTC as a result of 'mining' Bitcoins

Ross Ulbricht , the recently arrested mastermind behind Silk Road , appeared in court yesterday where his lawyer begged for more time before the detention hearing. As the Protective Order states, The United States is further authorized to seize any and all Bitcoins contained in wallet files residing on silk road servers and can transfer the full account balance in each silk road wallet to a public Bitcoin address controlled by the United States. Right now the FBI must be feeling pretty good too, because a federally controlled Bitcoin account , renamed as " Silkroad Seized Coins " now contains over $3.5 million worth of the digital currency , seized from Silk Road over 26,000 Bitcoins. As of this writing, the FBI 's Bitcoin address has received 122 transactions, nearly 30 of which apparently come from pranksters and now the account holds 27,365.89919925 BTC. Forbes, Kashmir Hill asked FBI spokesperson that what the plan is for those seized Bitcoins. " W

The FBI had seized a website called ' Silk Road ', that was considered one of the most popular Underground places on the Internet for buying drugs and other illicit goods and services. They arrested the site's alleged founder,  Ross William Ulbricht, known as " Dread Pirate Roberts ," in San Francisco, who reportedly had  26,000 Bitcoins worth $3.6 million. The FBI used information from Comcast in the investigation and collaborated with US Customs and Border Patrol, the Internal Revenue Service, the Drug Enforcement Administration, and the Department of Homeland Security. Ross Ulbricht Ross William Ulbricht, a 29-year-old graduate of the University of Pennsylvania School of Materials Science and Engineering  charged with one count each of narcotics trafficking conspiracy, computer hacking conspiracy and money laundering conspiracy, according to the filing. ' Silk Road '  website, which had operated since early 2011, also offered tut