Former Secret Service agent faces prison over Silk Road theft
Shaun Bridges, a former US Secret Service agent, who was accused of looting $820,000 worth of Bitcoin from the online drug market, &lsquo;Silk Road&rsquo;, pleaded guilty in the court for money laundering and obstruction of justice, which carries a maximum of 20 years in prison. Richard Weber, chief of IRS-Criminal Investigation, said that although it is impossible to apprehend crime over blockchain, through analysis of both blockchain and data from Silk Road servers, we were able to trace the defendant.
Former Secret Service agent Shaun Bridges, accused of embezzling $820,000 worth of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term from online drug marketplace Silk Road during its investigation, has pleaded guilty to charges of money laundering and obstruction of justice. He faces a maximum of 20 years in jail and a $250,000 fine.

Bridges allegedly used the credentials taken from an arrested Silk Road employee, Curtis Green, to transfer $820,000 worth of bitcoin to his personal account on Mt. Gox, and from there, to a Fidelity account.

Court documents indicate that he unlawfully carried out eight bank transfers of approximately $100,000, plus another two totaling over $250,000, between March 2013 and June 2014.

He reached a plea deal with prosecutors in June, and formally submitted his plea yesterday.

Richard Weber, chief of IRS-Criminal Investigation, said the case as an “excellent example of the financial expertise of our special agents." While it is usually impossible to apprehend crime performed over the Bitcoin Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, the combination of data seized from Silk Road, the bitcoin trail leading to it and analytical expertise bore fruit. "Through the analysis of both the blockchain and data from the Silk Road servers, we were able to trace the flow of funds, which eventually led to the defendant,” he said.

Former Drug Enforcement Administration (DEA) agent Carl Force has also agreed to plead guilty, accused of pocketing bitcoins during the investigation, as well abusing his credentials to pocket more from other Bitcoin businesses.