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Tag: Bitcoins

Ex-Secret Service Agent Sentenced to Additional 2 Years in Prison for Bitcoin Theft

bitcoin_bigBy Steve Neavling
ticklethewire.com

A former Secret Service agent received an additional two years in prison for stealing bitcoins during an investigation into drug marketplace Silk Road.

Shaun Bridges, 35, was sentenced in 2015 to nearly six years in prison stealing more than $800,000 worth of bitcoins during the Silk Road probe.

Bridges pleaded guilty in August to money laundering in another criminal case involving the theft of more than $350,000 with of bitcoin that today is worth more than $800,000. On Tuesday, U.S. District Court Judge Richard Seeborg in San Francisco sentenced Bridges to another two years in prison, the Justice Department announced

The investigation shut down Silk Road in October 2013, and authorities said the site generated more than $214 million in sales of drugs and other illicit goods and services, relying on bitcoins for payment.

Former Secret Service Agent Accused of Stealing More Bitcoins

bitcoin_bigBy Steve Neavling
ticklethewire.com

A former Secret Service agent who stole money seized during the Silk Road investigation is now accused of stealing money in two other cases.

Fortune reports that former agent Shaun Bridges is accused of stealing about $700,000 worth of bitcoin from a Secret Service account.

The theft appeared to occur three months after the agency was told to block the agent’s access to the bitcoin account.

Bridge was sentenced to nearly six years in prison in December for stealing more than $800,000 in bitcoins during the Silk Road investigation.

The department was told to move the funds somewhere else.

“Unfortunately, the U.S. Secret Service did not do so and the funds were thereafter stolen, something the U.S. Secret Service only discovered once it was ordered by a court to pay a portion of the seizure back to affected claimants,” a team of prosecutors wrote in an accompanying motion.

Was Ex-Secret Service Agent Planning to Flee Country After Stealing Bitcoins?

3-D model of a virtual bitcoin. Photo: Trader Tim/Flickr

3-D model of a virtual bitcoin. Photo: Trader Tim/Flickr

By Steve Neavling
ticklethewire.com

The former Secret Service agent who was prosecuted for stealing $800,000 in bitcoins while investigating the dark website Silk Road was arrested at his Maryland home a day before he was scheduled to turn himself in to begin a prison sentence, the Guardian reports. 

Arresting officers made a discovery that questions whether Shaun Bridges was planning on leaving the country. The found a bag with his passport and “corporate records for three offshore entities in Nevis, Belize and Mauritius.”

Officers also found several Secret Service-issued bullet proof vests that appear to have been stolen from the federal government, the Guardian reported, citing an arrest warrant.

Bridges is now in custody because he is considered a flight risk.

Furious Bitcoin Users Prank FBI Following Silk Road Shutdown

Steve Neavling
ticklethewire.com

The FBI has received more than 200 complaints from pro-drug advocates after agents raided Silk Road, an online marketplace for drugs, guns and other illicit goods, the Guardian reports.

While attempting to access $80 million worth of Bitcoins accumulated by Silk Road founder, the FBI seized $3.2 million worth of Bitcoins that the city had held in escrow for customers.

The FBI transferred the Bitcoins to blockchain.info so users can still access their Bitcoin accounts, the Guardian wrote.

Users sought retaliation by posting public messages along with minuscule transactions.

One Bitcoin user quoted Thomas Jefferson: “The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”