Silk Road (Darknet Market 2011-2013)
eventIntelligence & Surveillance · Darknet & Cyber
One website let people buy drugs online with Bitcoin until the FBI seized it in 2013.
Who they are
Silk Road, the pioneering hidden online black market founded in February 2011 by Ross Ulbricht.
What they do
It was the first big darknet marketplace, handling roughly 9.5 million Bitcoin in sales.
How it works
The FBI shut it down in October 2013 using server setup mistakes and ordinary detective work; a decade later, analysts at Chainalysis traced hack-related Bitcoin to a man named James Zhong.
Why it matters
It was the template for online black markets and showed that Bitcoin transactions can be traced years after the fact.
The engine's record — word for word
Founded February 2011 by Ross Ulbricht. Pioneer darknet market. Facilitated approximately 9.5 million BTC in volume. Taken down by FBI October 2013 via server misconfigurations and traditional investigative techniques. James Zhong tracked decade-after for hack-related BTC by Chainalysis Reactor.
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