SilkRoad V2 "hacked" all bitcoin gone.

kjl

Estimated value of about 2.7 million it appears now that the site admin are responsible. Essentially all the coins on the site were apparently in escrow but secretly were being transferred out to another bc wallet.

Guy on reddit says now that he is f&*ked as he was on tic with real life drug dealers for a consignment and can now not pay them.

I have to say of all the scams in the world, this one was pretty sophisticated.


http://www.reddit.com/r/SilkRoad/comments/1xtv7z/sr_20_hacked_all_btc_gone/

Valetta

Good.

The Backwards Man

Someone call me an ambulance to stop my heart bleeding.

Fr_Dougal

The Backwards Man wrote: »

Someone call me an ambulance to stop my heart bleeding.

You're an ambulance.

The Backwards Man

Fr_Dougal wrote: »

You're an ambulance.

Never gets old.

Unlike you!

Ray Palmer

kjl wrote: »

I have to say of all the scams in the world, this one was pretty sophisticated.

Doesn't seem that sophisticated at all. Run a trading post for a while and then reroute the funds and disappear.

There are lots of much more sophisticated scams and the best ones remain unknown

anncoates

That's Tor-rible.


Also, I love the word escrow for some reason.

J_E

I'd say any new pop up of Silk Road should be avoided because it just seems the admin always gets caught out and usually in an unflattering way.

kylith

Ahahaha! It was only a matter of time really.

anncoates

Tell me again why all this is less complicated than going and buying gear off somebody that lives round the corner?

Jonny7

anncoates wrote: »

Tell me again why all this is less complicated than going and buying gear off somebody that lives round the corner?

Can get better quality stuff without having to haggle with scumbags in flats

Amazon for drugs

seamus

Many suggestions at the moment that the admin's story doesn't add up and he's probably done a runner with the funds himself.

But what else do you expect when someone sets up a "bank" for criminal funds?

Whisko

anncoates wrote: »

Tell me again why all this is less complicated than going and buying gear off somebody that lives round the corner?

Quality and lack of scum bag helps.

Says I To Bridey

Glad I didn't sign up. Probably an opportunist, but it would also be a great way for authorities to destroy faith in the online system. I see a competitor site was taken down in the last few days too. Shame really, handy for getting good quality drugs without having to deal with street dealers, safer too

mike65

To borrow from Hitch Hikers Guide to the Galaxy - "if I can't scratch a window with it I don't accept it"

B_Rabbit

The lads who robbed them are absolutely fcuked.

death1234567

Break out the violins.

Itsdacraic

What's 2.7 million bitcoins worth in real money?

anncoates

Jonny7 wrote: »

Can get better quality stuff without having to haggle with scumbags in flats

Not everybody has to do that?

Plus you can't guarantee who you with online either. Or the postage interception risk. Or indeed whose site you trade through by the looks of it.

FouxDaFaFa

I did laugh at the "here are the details if you want to dole out your own form of justice" bit.

Reading the admin's post, he seems genuinely upset but it seems such a poor excuse for what happened (too slow to realise the risk) you'd have to wonder if he was in on it or if there's government involvement.

Wossack

Itsdacraic wrote: »

What's 2.7 million bitcoins worth in real money?

its 2.7 million dollars worth of bitcoins, not 2.7m bitcoins (not sure what the exchange is)


/edit found the current exchange, and its ~4500 bitcoins by the sounds of it

Hobbes

Wossack wrote: »

its 2.7 million dollars worth of bitcoins, not 2.7m bitcoins (not sure what the exchange is)

Exchange rate is whatever people will take for them. Bitcoins collapsed to $100 a coin (vs $800) a few days ago, but only for an hour. Someone offloading a large amount and wanted the cash fast.

Itsdacraic

Hobbes wrote: »

Exchange rate is whatever people will take for them. Bitcoins collapsed to $100 a coin (vs $800) a few days ago, but only for an hour. Someone offloading a large amount and wanted the cash fast.

2.7m worth?

zl1whqvjs75cdy

Surely its not worth the money to steal from heaps of drug dealers at once. Seems like asking for a slow and painful death.

pickarooney

anncoates wrote: »

That's Tor-rible.


Also, I love the word escrow for some reason.

It means 'crook' or 'con man' in French.

Genghiz Cohen

pickarooney wrote: »

It means 'crook' or 'con man' in French.

I always thought it sounded like a Mexican scarecrow.

The Diabolical Monocle

Well it would seem that silk road is now going to have a lot of trouble, and probably die off for many reasons.

Perhaps it will collapse fully this time, rather than being shut down by the law and simply restarting as silk-road 3.

Who could possibly benefit from an infamous, law trolling, drug trading, site disappearing.

Ray Palmer

donkeyoaty0099 wrote: »

Surely its not worth the money to steal from heaps of drug dealers at once. Seems like asking for a slow and painful death.

Yes indeed except it depends on who did it. There is a strong belief that bit coin is actually a creation of the US government. It is plausible too and it is also plausible they set up Silk Road 2. Good way to fund covert ops the same way direct drug dealing has been used by the CIA in the past.

KyussBishop

"Hmm, nobodies ever stolen Bitcoins from an online wallet before, guess I can trust a website dedicated to trading illegal merchandise, to hold my Bitcoins - not likely to be run by criminals/fraudsters or anything"

The main mystery here, is why so many people haven't copped yet, that the Bitcoin economy is a massive playground for financial fraudsters, looking to practice various different means of defrauding idiots who they can con into trusting them - it's not even hidden either; the main news stories about Bitcoin lately, have been about how its turned into a gigantic speculative Ponzi-like bubble, with multiple booms and busts in a short amount of time, and how various governments around the world are cracking down on it, citing its use for criminality/fraud.

GenieOz

The Diabolical Monocle wrote: »

Well it would seem that silk road is now going to have a lot of trouble, and probably die off for many reasons.

Perhaps it will collapse fully this time, rather than being shut down by the law and simply restarting as silk-road 3.

Who could possibly benefit from an infamous, law trolling, drug trading, site disappearing.

I think it's too convenient and too accessible to ever fully go away. It makes a lot of money for drug dealers in a relatively safe manner, save for the unpredictability of bitcoin.

KyussBishop

The Diabolical Monocle wrote: »

...
Who could possibly benefit from an infamous, law trolling, drug trading, site disappearing.

The person who owned it and ran away with all the Bitcoins?