Ross Ulbricht was back in a Manhattan federal courtroom today facing drug trafficking and money laundering charges for allegedly running the Silk Road online drug marketplace. We’ll have a story on today’s court action posted shortly. A few hours ago, computer security researcher Nicholas Weaver published some analysis about bitcoins he says came from Ross Ulbricht’s accounts. If the government has done a similar analysis—and there’s no reason to think they couldn’t—it will be one more obstacle for Ulbricht’s defense team. Last week, the outlines of Ulbricht’s defense became clear. Ulbricht’s lawyer Joshua Dratel admitted that his client founded Silk Road, but said Ulbricht walked away from the site only to be “lured back.” During opening statements, the defense attorney acknowledged that Ulbricht, who had 144,000 bitcoins on his computer seized by the feds, made money from Bitcoin. Dratel said this was, at least in part, from being a successful trader in the digital crypto-currency. Weaver, reading that, found the admission hard to believe. “That would imply Ulbricht was a fantastic Bitcoin trader,” Weaver told Ars. “I began to wonder, are there direct, known links from Silk Road to Ross Ulbricht?” Weaver started looking closely at the “blockchain,” which tracks all Bitcoin transactions. All Bitcoin transactions are public—it’s part of how the system works securely. In all, he found… Read full this story
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Researcher links 20 percent of Ulbricht’s bitcoins to Silk Road accounts have 333 words, post on arstechnica.com at January 20, 2015. This is cached page on IT Breaking News. If you want remove this page, please contact us.