Rogue Silk Road Agent Charged with another Bitcoin Theft

There has been a new development in a two-year-old Bitcoin theft case against an ex-Secret Service agent.

New documents show that additional theft had taken place—just as new developments regarding the case were starting to simmer down, everything has started to unravel yet again.

The ex-agent in question, Shaun Bridges, allegedly stole as much as $800,000 worth of Bitcoin from the Silk Road before it was shut down by the U.S. Federal Bureau of Investigation.

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How it All Began

Stack of bitcoins with gold background
New documents show more money was stolen in the 2015 case in which nearly $1 million dollars in Bitcoin was stolen by federal agents.

In 2015, the U.S. Department of Justice charged two federal agents with the crime of stealing hundreds of thousands of dollars’ worth of Bitcoin while they were investigating the Silk Road.

The Silk Road was once upon a time the most successful marketplace on the dark web.

Almost anyone with access to the site could buy anything they wanted, whether legal or illegal.

By October 2013, it was estimated that Silk Road generated around $200 million in sales.

But soon after, an investigation was launched into the Silk Road and it was promptly taken down by the FBI.

It was discovered that the marketplace was run by an individual named Ross Ulbricht, who worked under the online alias “Dread Pirate Roberts.”

He was later found guilty and charged with crimes that included money laundering and conspiracy to traffic narcotics.

However, it was found later that two of the federal agents who were working on the case had stolen almost a million dollars’ worth of Bitcoins during the investigation.

Bridges was accused alongside a former Drug Enforcement Administration agent, Carl Force.

Both men were charged with both wire fraud and money laundering.

Force, who was 46 years old, and Bridges, who was in his early thirties, had belonged to the federal team tasked with taking down the Silk Road.

According to the authorities, Force had a very important role as the lead undercover agent in the investigation and therefore could get easy access to the money.

In his undercover operation, he was supposed to make contact with “The Dread Pirate Roberts” using a sanctioned online alias, but Force was also communicating with the Silk Road admin on the side.

He had set up a number of different aliases and was talking to Ross Ulbricht right under the federal government’s noses.

According to the prosecutor, Force had extorted nearly $250,000 from Ulbricht.

He also offered to sell information regarding the ongoing investigation for the price of $100,000.

Bridges, on the other hand, had stolen around $800,000 worth in Bitcoin by diverting the digital currency to his personal account.

Soon after Force was arrested, Bridges was also apprehended and plead guilty to the related charges.

New Allegations of Stealing More Money

virtual currency values
Bitcoin’s value was much lower than it is now

Recent unsealed documents revealed that Bridges may have stolen more money than what was earlier discovered.

According to the prosecutors, Bridges had stolen $700,000 in Bitcoins in July 2015 and roughly $20,000 the following months.

The new information points out that Bridges may have stolen more money a few months before he was sentenced.

Bridges was then re-arrested under suspicions regarding him trying to flee from the U.S. before his prison sentence began.

In the following court filings, it was revealed that Bridges would be investigated for actions involving additional Bitcoin theft.

The recent court filings show that Bridges had stolen 1606.6488 Bitcoins, which amounts to nearly $6.5 million today.

At the time of the theft, Bitcoin’s value was much lower than it is now.

According to the prosecutors, Bridges had deposited this money into BTC-e, which was a popular Bitcoin exchange until it was shut down by authorities.

The recent court documents show that there were at least 19 different transactions that Bridges made trying to hide his extra stolen money.

Right now as it stands, Shaun Bridges might receive up to 10 years in prison and a hefty fee of $250,000.

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