In one of the wilder stories I’ve ever read, Ross Ulbricht, the mastermind behind SilkRoad.com, a website in which Bitcoins were traded online for the home delivery of illegal drugs, was recently arrested by the FBI. Ulbricht’s website processed $1Billion worth of transactions before the site was shutdown in early October. Must Read Story!
“How were these drugs delivered? Simple. The seller would vacuum seal the package then ship it through the USPS, likely with a false return address. Ironically, the Federal government was a drug dealer and they didn’t even know it… for a while. SilkRoad would make money by taking a 10% commission on every transaction.”