Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Thomas White has been ordered to hand over $667,000 (ÂŁ490,000) worth of Bitcoin by the UKâs National Crime Agency (NCA), per Sky News.Â
White, 26, ran the Silk Road darknet market following the arrest of Ross Ulbricht, the original creator of the website, in 2013. After the website was shut down by law enforcement, White dropped out of an accounting degree to work on its successor site, Silk Road 2.0.Â
In 2019, White pleaded guilty to drug trafficking, money laundering, as well as producing 464 Category A images of child abuseâthe worst category of child abuse imagesâand was jailed for a total of five years and four months.Â
âThomas White was a well-regarded member of the original Silk Road hierarchy. He used this to his advantage when the original site was closed down and profited significantly from his criminal activity,â said Tyrone Surgeon of the NCA.Â
White and Silk Road 2.0
Silk Road 2.0 was a lot like its predecessor.Â
On Silk Road 2.0, users could make use of Torâan anonymized web browserâto access the darknet marketplace and use Bitcoin to purchase illicit goods like drugs.Â
White took a hefty commission on purchases, ranging between 1% and 5% on each sale. According to investigators, approximately $96 million (ÂŁ73 million) was spent on the site.Â
âAlthough he had no legitimate income, White paid ÂŁ10,700 upfront to rent his plush apartment on Liverpoolâs city water front,â the NCA added.Â
âThis proves that crime doesnât payânot only has he spent the last two years in prison, he now has to hand over nearly ÂŁ500,000,â the NCA also said.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.