Hodgson Legal

The Dark Web, Bitcoins & Reincarnation

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Brandaide recently reported that the self-styled “Amazon or eBay of illegal drugs,” the Silk Road Anonymous Market, was back in business.  This was following a DDOS (‘distributed denial of service’) attack on the site. The Dark Web is a world unto itself, and one that believes in reincarnation. Greed may be at the heart of the swift rebirth. Now the financial markets are reporting establishment of Bitcoin funds to replace gold and even ATM machines, despite the known criminal activity found on the site. The Street.

Much has happened since our earlier report, Silk Road, Bitcoins Back in Business.  In mid-October, the FBI announced that it had arrested the suspected mastermind of the site, 29 year old Ross William Ulbricht, aka Dread Pirate Roberts, in California. A message was posted on the home page of the site (accessible only via the TOR/ Onion Router software) announcing the site had been seized.

On November 13, a reincarnated version of the site, calling itself ‘Silk Road 2.0’ appeared at a different Dark Net URL. The new Dread Pirate Roberts boasts, on the home page of the new site that “Silk Road has risen from the ashes,” and that “… as our resilient community bounces back even stronger than ever before, never forget that they (the FBI) can only ever seize assets – they can never arrest our spirit, our ideas or our passion, unless we let them.”

Like the old Silk Road, the new Silk Road is accessible only via Tor and uses the cyptocurrency Bitcoins to hide the identity of buyers and sellers. In addition to hard drugs, the site sells high-end fakes of well-known brands (Cartier, in particular), all promoted by a seller calling herself Foxy Lady.”