An anonymous online black market called the Silk Road allowed users to buy and sell illegal goods. Dark nets, anonymous networks that can only be accessed by specialized software like Tor Browser, were used for its operation. The dark web is made up of the content of dark nets; Silk Road was the first contemporary dark web marketplace.
Who was the Silk Road’s founder?
Under the alias “Dread Pirate Roberts,” Ross Ulbricht launched the Silk Road in 2011. By enabling anonymous online trading and safeguarding users’ identities, transactions, and personal liberties, Ulbricht’s Silk Road encouraged the trafficking of illegal items. He ran the underground market until 2013.
The Silk Road website was shut down by the FBI in 2013. Ulbricht was detained and accused of money laundering, hacking computers, conspiring to sell drugs, and attempting to have at least five individuals assassinated because they could have revealed the Silk Road’s secret origins.
What is the Silk Road’s functioning ?
On the Tor network, which hides your identity using IP address anonymity and encryption technologies and makes it possible for you to access other dark web sites, the Silk Road market functioned. Customers may access the Silk Road using the Tor network, interact anonymously with sellers, and use cryptocurrencies to purchase illicit products.
What year did the Silk Road end?
In 2013, the Silk Road was discontinued. The DEA and Department of Justice undertook a protracted investigation under the direction of US Senator Charles Schumer that ultimately resulted in the closure of the Silk Road and the arrest of its creator Ross Ulbricht.
The FBI arrested Ulbricht after seizing millions of dollars’ worth of Bitcoin from the digital wallets of Silk Road customers. Ulbricht’s arrest and the confiscation of Bitcoin were intended to send a strong message to all other cybercriminal organisations.
The Silk Road is still in operation ?
The shadow web Although Silk Road is no longer operational, it created the model that other markets have since adopted. Many of them utilise Tor for anonymous access and use escrow services and Bitcoin for financial transactions. Similar to the old Silk Road, some also offer a ranking system for dealers.
Many of the earnings from the Silk Road bazaar were allegedly remained missing long after it was closed down. Verifiers of the Bitcoin blockchain in 2020 discovered two transactions coming from an address connected to the Silk Road.
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