Silk Road: the online drug marketplace that officials seem powerless to stop

edgarshade

Bluelighter
Joined
Aug 31, 2010
Messages
1,954
Location
UK
Guadian

James Ball
The Guardian, Friday 22 March 2013 16.04 GMT

Mark Johnson* rifles through his mail as he gets home from work. Among the usual bills is a small padded envelope. Though it doesn't have his name on, it's the package he's most interested in: inside lie two grams of, he hopes, relatively pure MDMA.

Johnson has no idea who has sent him the envelope: he has never met his dealer, and never will. The delivery was facilitated through a website called Silk Road, an underground eBay-like site which has become the core marketplace for buying and selling drugs online – and despite law enforcement authorities across the world being fully aware of its operation they have, so far, been powerless to stop it.

The site has been shrouded in secrecy even since it was founded in February 2011, but research due to be formally published later this year tracked its growth during six months of last year. Over those months, sales on the site doubled, hitting $1.7m a month.

Johnson, a TV executive, is one of those contributing to those monthly takings. Describing himself as "not excited or impressed by drugs per se", but "interested" in them, he explains how he came to the Silk Road.

"I heard about it at a party, from the type of guy you only ever meet at parties," he said. "I missed the last train. I might as well go hard. His brown envelope proved to be a veritable party bag, reminiscent of Hunter S Thompson. Where had he found all this? The Silk Road."

More...
http://www.guardian.co.uk/world/2013/mar/22/silk-road-online-drug-marketplace
 
Therers only one way to stop Silk Road. Increase funding to fight the war on drugs and increase prison sentences.
 
nobody launders any money. all transactions are done through online currencies kinda like bitcoins n watnot. so in reality theres no "real" money changing hands. Its quite an impressive set up. I got an invite and created an account..to bad i accidentally through away my info:(
 
^ when they turn the coins into cash through mtgox, the cash is deposited into a bank, no? It's not some kind of anonymous western union... Well it is, but when the currency is changed into cash somebody gets the cash and that can be monitored.

Bottom line as long as banks are cashing in, silk road will thrive.
 
Sourcing drugs through the Internet isn't anything new. Some of the largest distributors ever were using various source forums back in the day. Before btc people were using pecunix, blah blah.

It has just become loads easier.
 
nobody launders any money. all transactions are done through online currencies kinda like bitcoins n watnot. so in reality theres no "real" money changing hands. Its quite an impressive set up. I got an invite and created an account..to bad i accidentally through away my info:(

You don't need an invite.
 
Top