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Ross Ulbricht Immensely Grateful for Potential Path to Freedom Following Trump’s Pledge

Ross Ulbricht Immensely Grateful for Potential Path to Freedom Following Trump’s PledgeRoss Ulbricht, the founder of the Silk Road marketplace, has received a beacon of hope. Former President Donald Trump has made a compassionate pledge to commute Ulbricht’s sentence on his first day back in office, if re-elected. This remarkable gesture has been met with immense gratitude by Ulbricht, who has spent over a decade in […]

Nelk Boys ‘failed to deliver’ on NFT project promises, class suit claims

Donald Trump Pledges to Stop Biden’s Anti-Crypto Agenda, Protect Bitcoin, Free Ross Ulbricht

Donald Trump Pledges to Stop Biden’s Anti-Crypto Agenda, Protect Bitcoin, Free Ross UlbrichtPresidential candidate and 45th U.S. President Donald Trump has declared support for the crypto sector. “I will also stop Joe Biden’s crusade to crush crypto,” he promised. “I will support the right to self-custody.” He will also “commute the sentence of Ross Ulbricht to a sentence of time served.” Moreover, Trump stressed, “I will keep […]

Nelk Boys ‘failed to deliver’ on NFT project promises, class suit claims

Silk Road founder marks 10 years into his double life sentence in prison

Ross Ulbricht the founder of the first “modern darknet market” has reached the 10-year mark of his double life sentence in prison after having his laptop seized by the FBI in 2013.

The founder of the former online black market Silk Road, Ross Ulbricht, marked 10 years behind bars after he was given a double life sentence by United States authorities in 2013. 

On Oct. 2 Ulbricht posted on X that he has already spent a full decade in prison and fears he will spend the remainder of his life “behind concrete walls and locked doors.” He said all he can do now is “pray for mercy.”

Silk Road began in 2011 and was run and operated by Ulbricht from his personal laptop under the username “Dread Pirate Roberts.” It is known as the first modern darknet market and had a payment system built on Bitcoin (BTC). 

However, on Oct. 1, 2023, the laptop was seized by the U.S. Federal Bureau of Investigation (FBI).

Ulbricht was convicted in 2015 in federal court in the U.S. for various charges relating to the operations of the Silk Road. He was sentenced to two life terms, plus forty years and no possibility of parole.

According to the court documents for the case, while in operation the Silk Road site facilitated sales amounting to 9,519,664 Bitcoins (BTC) between February 2011 and July 2013, and took a commission of 600,000 Bitcoins (BTC).

At the time of publication of the court documents, this equaled approximately $1.2 billion in sales and around $80 million in commissions.

Related: September becomes the biggest month for crypto exploits in 2023: CertiK

Ulbricht’s case has received widespread attention, with many echoing calls for the website’s founder to be shown clemency.

According to a website fighting for justice for Ulbricht, over 250 organizations have backed these calls and half a million people have signed a virtual petition to free Ulbricht. He has also found great support among the crypto and Bitcoin communities.

One user went so far as to deem Ulbricht as a "Bitcoin political prisoner" and said he is someone Bitcoiners can never forget. 

While there is a powerful swell of support for Ulbricht and many internet users have voiced agreement that the punishments given to the Silk Road founder were unjust, there are others who see the outcome differently. 

One X user pointed out that the prosecution in the case against Ulbricht claimed that he allegedly hired hitmen to have several people killed, though this wasn’t officially charged to Ulbricht and still remains a claim.

Another user highlighted what actually happened on the Silk Road site, including sex trafficking and the drug trade, and how it was used by “terrible people to do this stuff.”

Debates online continue as Ulbricht defenders point to modern social media platforms such as X and Facebook, saying, “All of those things happen on [X] as well. And every other social media site."

The leading website dedicated to freeing Ross has posted the sentences dealt to others involved with the Silk Road saying that the average sentence is around six years. The top drug seller on the site was only given seven years in prison and is currently free. 

Additionally, the creators of the Silk Road 2.0 have either served nothing or up to 6.5 years and are now all free.

Magazine: $3.4B of Bitcoin in a popcorn tin: The Silk Road hacker’s story

Nelk Boys ‘failed to deliver’ on NFT project promises, class suit claims

US government plans to sell 41K Bitcoin connected to Silk Road

On March 14, 2023, the government sold 9,861 BTC for $215.7 million, according to court documents filed on March 31.

The United States government plans to liquidate more than 41,000 Bitcoin seized as part of the case against Silk Road creator Ross Ulbricht.

A March 31 filing with U.S. District Court for the Southern District of New York regarding the case against James Zhong said U.S. government authorities had begun liquidating roughly 51,352 Bitcoin (BTC) seized in the Ulbricht case. According to the filing, officials sold roughly 9,861 BTC for more than $215 million on March 14, leaving roughly 41,491 BTC.

"The Government understands [the Bitcoin] is expected to be liquidated in four more batches over the course of this calendar year," said the court filing.

This is a developing story, and further information will be added as it becomes available.

Nelk Boys ‘failed to deliver’ on NFT project promises, class suit claims

US Announces ‘Historic $3.36 Billion Cryptocurrency Seizure’ as Silk Road Bitcoin Thief Pleads Guilty

US Announces ‘Historic .36 Billion Cryptocurrency Seizure’ as Silk Road Bitcoin Thief Pleads GuiltyThe man who stole over 50,000 bitcoins from the Silk Road marketplace has pleaded guilty. According to the U.S. Department of Justice, “the seizure was then the largest cryptocurrency seizure” in the history of the DOJ and “remains the department’s second-largest financial seizure ever.” Silk Road Exploiter Pleads Guilty The U.S. Department of Justice (DOJ) […]

Nelk Boys ‘failed to deliver’ on NFT project promises, class suit claims

$3,000,000,000 Worth of Bitcoin (BTC) Forfeited to US Government By Former Silk Road Founder

,000,000,000 Worth of Bitcoin (BTC) Forfeited to US Government By Former Silk Road Founder

Silk Road founder Ross Ulbricht is forfeiting billions of dollars worth of Bitcoin (BTC) and other crypto assets to the US government. According to a new court filing, Ulbricht will relinquish any claim to over 69,000 BTC and undisclosed amounts of Bitcoin Gold (BTG), Bitcoin SV (BSV) and Bitcoin Cash (BCH) worth a combined $3 […]

The post $3,000,000,000 Worth of Bitcoin (BTC) Forfeited to US Government By Former Silk Road Founder appeared first on The Daily Hodl.

Nelk Boys ‘failed to deliver’ on NFT project promises, class suit claims

The ‘Growth Collection’ — Ross Ulbricht to Auction Bitcoin-Backed NFTs on Satoshi’s Birthday

The ‘Growth Collection’ — Ross Ulbricht to Auction Bitcoin-Backed NFTs on Satoshi’s BirthdayFollowing Ross Ulbricht’s non-fungible token (NFT) sale that raised 1,446 ether or $6.27 million at auction, Ulbricht is dropping another NFT compilation called the “Growth Collection.” According to the announcement, the NFTs will be minted using the Bitcoin blockchain and will be auctioned at the Bitcoin22 conference in Miami on April 6-8. Ross Ulbricht Is […]

Nelk Boys ‘failed to deliver’ on NFT project promises, class suit claims

Ross Ulbricht NFT Collection Raises Over $6 Million in Ethereum, Free Ross DAO Wins Auction

Ross Ulbricht NFT Collection Raises Over  Million in Ethereum, Free Ross DAO Wins AuctionThe Ross Ulbricht Genesis non-fungible token (NFT) collection auction has come to an end and the auction winner was the “Free Ross DAO,” backed by the Pleasrdao project. The NFT collection raised 1,446 ether or $6.27 million at the time of settlement. Free Ross Decentralized Autonomous Organization Wins Ross Ulbricht’s NFT Auction, DAO Plans to […]

Nelk Boys ‘failed to deliver’ on NFT project promises, class suit claims

Ross Ulbricht Genesis Collection NFT Auction Sees Millions of Dollars in Ethereum Bids

Ross Ulbricht Genesis Collection NFT Auction Sees Millions of Dollars in Ethereum BidsTwo days ago on December 2, the Ross Ulbricht Genesis Collection auction of non-fungible token (NFT) assets kicked off at Art Basel Miami via the Superrare platform. The Ulbricht NFT collection auction ends on December 8, and so far the auction has seen a bid of 666 ether or roughly $2.6 million. Additionally the project […]

Nelk Boys ‘failed to deliver’ on NFT project promises, class suit claims