Silk Road Attacked By Hackers!

It was not until Thursday morning 13th February 2014 when the Bitcoin Community found themselves at the hands of mischievous hackers. On this fateful day, it was announced that Silk Road had been hacked and an estimated 4.474 Bitcoins were stolen which roughly worth $2.7 million, as per the time of the malicious attack. The heist, as some people term the attack, is said to have been caused by the flaw in the Bitcoin Processing Protocol itself. The protocol is best known as the Transaction Malleability. Silk Road is not the first victim of such attacks. Earlier on February 5, MtGox, which is the largest trading market for Bitcoins alongside other markets, shut down withdrawals of Bitcoins all accounting it to Transaction malleability.

Bitcoin hackers
Is Transaction Malleability to be Blamed?

Transaction Malleability is a bug that is in-built in the Bitcoin Transaction Protocol. It is simply when a unique transaction ID is slightly altered before it is confirmed with the rest of the servers. On Wednesday, one of the site administrators attested that a bunch of hackers exploited the Transaction Malleability loophole to withdraw millions of cash from the site just as the administrators were carrying out maintenance that required the huge amount of Bitcoins to be placed in a vulnerable location. Defcon said that, there was complete loss of cash from the escrow holdings. He continued saying that the attack hit them at the worst time as they were planning to re-launch the brand new auto-Finalize and Dispute Center. And this would need the entire Bitcoin community’s full balance in the hot storage as per their projections based on the order finalization volume.

Actually, Bitcoin is an online currency, decentralized, free from either government, group or personal control. Due to this, people all over the world can send this currency to one another without any transaction fee involved and without any 3rd party interference. This is what made Bitcoins ideal for trade in illicit items like drugs and even forged documents. That is why the use Bitcoins is facing strong criticism from various governments. However online selling sites like the Oversock.com has already accepted the use of this currency. FBI shut down the old Silk Road last October and arrested its alleged boss Ross Ulbricht seizing over 144,000 Bitcoins that was valued at $28 million by then. This neverstopped Silk Road momentum as the new Silk Road 2.0 was created. This is the one that was attacked on Thursday.

Silk Road Hacked
Although this latest attack has raised eyebrows over Transaction Malleability, the condition has been there since 2011. Experts perceive that, best practices may be employed to eliminate the Vulnerability of Bitcoins. The good news is that, the admins may be able to recover the stolen funds. They have posted a series of accounts they believe to belong to the hackers mostly from France and Australia. The admin has told the users to contribute any tangible information that may lead to recovery of the funds. For the people that lost bitcoins in this heist they will be repaid via credit on all of their fees until the balance is paid back. This is not what a lot of people want but at least it show the commitment to rectify the situation and try to keep the site going. Along with this repayment they are also looking at new ways to handle the processing of payments so this won’t happen again.
If you are unsure about Silk Road and want to wait for it to settle down you may want to check out Agora Market. They have been gaining a good reputation although it is still pretty much the same thing as Silk Road but smaller. There is a site about it here with the Agora Market url.
Remember to always make yourself anonymous!

Read More

Silk Road Mega Security Upgrade Complete!

The head of the Silk Road, Dread Pirate Roberts, has taken some initiative and don’t a full scale upgrade of security and redundancy to protect the site, users and users bitcoins from hackers and the authorities.

This comes at a time when users of these online black market sites are feeling extremely vulnerable because the closure of the two main competitors Black Market Reloaded and Sheep Marketplace. These both closed and people lost a ton of money in the closure.

The new upgrades to Silk Road have been based around making the site more secure and trying to safeguard against closure by the authorities. Apparently Dread Pirate Roberts  has set up a fail over system by uploading portions of the site to hundreds of servers around the world so if one goes down or is seized by the authorities then it can go straight back within minutes as if it never went down at all. It is almost like having splinter cells set up everywhere so even if they think they took one down then another is straight back up and in its place. Dread pirate Roberts wrote “They have sunken one ship, but now they have awoken the Kraken”

Silk Road Security Upgrade Complete

As some people are probably aware that some other sites where actually the ones closing themselves down and running with the money so they are probably thinking that they could just do the same, well they could but I doubt it. The reason I say this is that as they are now the biggest online black market in the world again, virtually no competitors, have the best reputation, the most morals, the best security ever now seen in one of these sites and a massive community they stand to make far more money by staying open than anything we have ever seen before. It will dwarf any previous site.

>>> If wanting to visit Silk Road then you will want to follow this guide by clicking here. <<<

Read More

Silk Road Undergoing Upgrades – Still Up

Silk Road Anonymous Marketplace is undergoing upgrades to the system in the wake of Sheep Marketplace and Black Market Reloaded going down. The reason for the upgrades is to cope with the increased traffic received since BMR and Sheep have gone down.

Sheep Marketplace went down a couple of days ago after it claimed that a security leak contributed to someone hacking them and stealing all of the bitcoins which are rumored to be around the $40 million mark. Many are thinking that the whole site was just a scam as many vendors apparently were offering massive discounts just before closing prompting many people to believe it all was just an elaborate hoax to get more bitcoins deposited int he system before they all took the money and ran.

Black Market Reloaded is now reportedly closing as well because the administrator says that because Sheep Marketplace is closing then it will not be able to guarantee the anonymity of its users with the new influx of users that will come over from Sheep marketplace.

It seems as though Silk Road 2.0 has risen to the top of the tables to be the biggest black market website in only around 1 month. This also enforces the fact that you want to take your online anonymity dead serious and take every possible precaution you can to be untraceable and encrypt everything.

Sheep marketplace down

Read More

The New Silk Road – How To Stay Anonymous!

Be Anonymous When On Silk Road

Well as you may or may have not heard, Silk Road Anonymous market place is back up and running. As it has just opened a day ago it will take a few days to a week or so for it to start functioning properly but there are already sellers listing there. They have really taken into consideration the recent events with the demise of the original Silk Road and invested a lot of time and money into making it more secure and anonymous.

You too should learn from the events of the past and take every precaution possible to remain anonymous and encrypt everything. While you visit these illegal black market websites that sell every drug imaginable, you are taking a risk of being tacked and your every move traced by others which can lead to information theft, your bitcoins being stolen or even prosecution by the authorities.

To help minimize these risks there are a few simple steps you should take to lower the chance of detection which can prevent you getting into a bad situation that you are stuck in. The best method is prevention. I have gone through a number of these methods in the “guide to the Silk Road” which you can follow by clicking here. It contains the current way to get to the Silk Road Anonymous Marketplace, the new Silkroad URL and the steps you should take to remain anonymous. The most useful piece of advice I can give you all is to start using a VPN for everything you do on the internet, this will encrypt everything you do so no one (including your internet service provider) knows anything about what you are doing online and will also hide your IP making you anonymous or even invisible thereby hiding your identity and location. After the alleged mastermind of the original Silk Road got caught and we now know that everything we do on the net can be recorded and traced, you should take every possible precaution there is to make sure you remain free and happy.

If you want to also check out Silk Roads biggest competitor the click here to learn more about Black Market Reloaded.

If you also know some useful tactics to hide your identity and remain anonymous then please leave a comment and I will review and possibly include in my guide.

Read More

Silk Road Is Back Online! – We Rise Again!

Yes you heard right, Silk Road is back online after just over one month down. In late September 2013 the alleged mastermind of the original Silk Road Anonymous marketplace was arrested in San Francisco at a coffee shop going about his business. Well it took the various government agencies over two and a half years to shut the biggest online black market down and a ton of money but the Silk Road Marketplace is back online after only around 5 weeks down. To even rub it in the noses of the authorities that shut down the original they have made the login screen a copy of the one put up by the US Federal Government when they were boasting about closing it with a slight change as seen bellow.The New Silk Road Log In Screen

Some of you may be asking “How can Silk Road be back up if the alleged creator is behind bars?” The answer is quite simple. A group of the best sellers and original administrator of the site banded together and put a lot of hard work into creating a new and improved version of the original Silk Road. They have endeavored to make it more secure and friendlier by supporting various charities and programs while also trying to beef up security and counter measures.

One of the big improvements to the system is a safe guard for user’s bitcoins in the event of another shut down due to the government seizing the site. They have programmed in a way for you to retrieve your bitcoins on the unfortunate event of the new Silk Road being busted and shut down.

One of the biggest obstacles for the new Silk Road will be to win back its previous users, especially those who lost bitcoins in the shutdown. Since the demise of original site there have been many new black market websites try to take the throne including Black Market Reloaded, Atlantis, Project Black Flag and Sheep to name a few. Atlantis and Project Black Flag were both short lived and also took everyones bitcoins which instilled even more of a sense of untrustworthiness to the sites as those who lost out in the demise of the original Silk Road then also see the same thing happen to others on competing sites.

Black Market Reloaded Logo

The biggest new online black market site that has stood up the most is Black Market Reloaded as it has proven so far to be reliable and the size of the marketplace is the largest of the new sites. The one big draw back for BMR is that it had a big security breach in October where someone published some of its source code and the site was thought to have gone down until the creator thought that it was fixable so it went back online. This also has made many people think weather this site will leave them vulnerable one day which does not really instill a sense of security. An added downside is the unrestriction of items sold on BMR which Silk Road will hold the moral high ground on this point as it does not allow the sale of weapons, child porn and many other seedy goods.

Now that Silk Road has re-emerged with an increased security, better morals and a way for users to get their money back if the site gets shut down again I think that this will soon become the biggest online black market drugs bazaar once again. If you want to see the guide on how to get to the new Silk Road then just click here.

Read More