FBI Arrests Silk Road Founder

    FBI agents leave Trenton City Hall, Thursday, July 19, 2012, in Trenton, N.J. The agents raid comes a day after they searched the home of Mayor Tony Mack. The Mayor on Wednesday denied wrongdoing after the FBI spent the overnight hours searching his home, and the homes of his brother, Ralphiel Mack, and businessman Joseph Giorgianni, a campaign donor who is a convicted sex offender. (AP Photo/Julio Cortez)

    Julio Cortez/AP

    All right dealers, back to the streets. Federal officials have arrested Ross Ulbricht, 29, in San Francisco, and shut down his website, Silk Road, where those in search of illicit substances from Molly to Mary Jane could click and buy with Bitcoin. Authorities also seized 26,000 bitcoins, worth about $3.6 million. The complaint charges Ulbricht, AKA Dread Pirate Roberts, with narcotics trafficking conspiracy, computer hacking, and money laundering, and calls him the owner and operator of an underground site “that provided a platform for drug dealers around the world to sell a variety of controlled substances,” outside the reach of law enforcement or governmental regulation. Can you post bail with Bitcoin?

    Read it at TechCrunch