Bitcoin Exec To Spend Two Years Behind Bars For Silk Road Transactions

Posted by samzenpus on Sunday December 21, 2014 @05:45AM from the end-of-the-road dept.

mrspoonsi writes Charlie Shrem, former Bitcoin Foundation board member and CEO of the now-defunct exchange BitInstant, has been sentenced to two years in prison for helping Silk Road users anonymously swap cash for digital currency. Silk Road, as you know, was the online marketplace infamous for hosting anonymous drug and gun sales that was busted by the FBI back in 2013. A version 2.0 went up shortly after that, but it suffered the same fate as its predecessor this November. Based on evidence gathered during the crackdown, Shrem agreed to partner with Robert M. Faiella to trade over $1 million in cash from buyers. Faiella was the one with direct contact to buyers, hiding behind the name BTCKing to post ads promoting his dollar-to-Bitcoin business on the marketplace.

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Re: Just bought boughtcoims by Anonymous Coward · 2014-12-21 06:08 · Score: 3, Funny

Yes. Sell them and buy rubles.
Re:So how does this work? by Anonymous Coward · 2014-12-21 06:35 · Score: 0, Funny

I, for one, welcome our police state invoking, aristocratic overlords. Would you like some cake?
Re: Bitcoin =! anonymous. by Anonymous Coward · 2014-12-21 07:31 · Score: 3, Funny

Slashdot is not the place where I would expect != to be misspelled.