Silk Road, an online, bitcoin-based marketplace “known for drug trafficking and illegal activity,” is now in the hands of the FBI, according to TechCrunch. The value of the currency dropped from $130 to roughly $100 following the announcement.
Launched in 2011, the website has long been accessible only through the “seemingly secure” Tor Network, and became an infamous seller of drugs and guns. There were more than 957,079 accounts registered to the site as of July 23, 2013, however, a court document indicated that this number is not necessarily the exact number of actual users.
As of the same date, the website reportedly had generated $1.2 billion in revenue. For more on Silk Road and its demise, click here.
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