ANNOUNCEMENT: Well it has happened! Another Silk Road Darknet Market has spawned after the demise of Silk Road 2.0. The new site is called Silk Road Reloaded and is utilizing different technology than its predecessors therefore a new guide for Silk Road Reloaded will be coming soon. In the meantime Agora Marketplace is still alive and kicking bigger than ever with more listings than Silk Road 2.0.
Jason Weld Hagen, known by the name “hammertime” on the Silk Road, pleaded guilty on Tuesday to his role in selling 17 pounds of methamphetamine and money laundering conspiracy. The 40-year old man from Vancouver who holds a doctorate degree in philosophy from the Purdue University was charged along with three others from Washington in December 2013 for conspiring to distribute 50 grams or more of methamphetamine apart from several counts of money laundering.
Hammertime was arrested two months after the Fed seized the servers of the Silk Road in Iceland and arrested the mastermind of the darknet marketplace, Ross Ulbricht, in October 2013. He and the other three had then pleaded not guilty. However, two weeks after the conviction of Ulbricht for creating the Silk Road, Hagen has pleaded guilty to 2 out of the 19 charges. For the first charge, the maximum sentence is life imprisonment with a minimum of 10 years of mandatory jail term and five years of supervised release. For the second charge, the maximum sentence is imprisonment for 20 years. According to Hagen, he has provided the affidavit in order to help the government seize the proceeds of his illegal activities.
Further, Hagen has explained in the affidavit that he used Tor for his communications with his customers and accepted payments in bitcoin for the meth he sold during the period from August 2012 to December 2013. He has also clarified that bitcoin was exchanged for dollars and money was distributed to his allies through PayPal and several bank accounts. As explained in the affidavit, they have made more than 3,000 sales worldwide including in the UK, Canada, Australia, Czech Republic and Italy.
By pleading guilty, Hagen forfeits as much as $712,916.12 to the government. This includes his earnings from drug sales and the money that the Feds seized when he was arrested. Hagen was to be tried one year ago. However, it got delayed and on February 4 he requested a plea hearing after Ulbricht’s conviction. The plea hearing was held on Tuesday. The judgment is to be pronounced on May 27, 2015.