When Silk Road collapsed, a $100 million investment
Posted On July 25, 2021
A $100-million investment in a San Francisco-based online drug marketplace for buying and selling illegal drugs is turning into a nightmare.
The site Silk Road went offline on Thursday amid what was described as a data breach and a massive loss of data.
It was shut down and has been temporarily suspended for 30 days.
The news that a hacker managed to steal data from the site, including account information and the names of the administrators, caused panic among some investors.
But other investors who were not affected by the breach have taken to Twitter and Facebook to share their concerns and explain why they are buying the website again.
This isn’t the first time the site has gone down.
On March 29, the site was down for several hours, prompting many to sell on the site.
That was followed by another massive data breach in September.
The Silk Road website has been the subject of a number of scams and scams that have turned the online market for buying, selling and selling drugs into a full-blown scam.
The site has also attracted a number the attention of the Federal Trade Commission.
The hack is the latest blow to a once-promising site that has since suffered massive losses.
In the past two weeks, a hacker has breached the security of a database of over 200,000 Silk Road users and has stolen the identities of the site’s administrators, according to a report from The Associated Press.
The website’s administrator, Ross Ulbricht, was sentenced to life in prison in March for his role in running the drug marketplace.
In March, the FBI said it had evidence that Ulbrithsts involvement in the operation was “deeply concerning” and that the FBI was seeking to extradite him to the U.S. to face charges.
The FBI has been investigating Ulbriths alleged ties to a major drug trafficking organization, the Black Market Reloaded.
Last year, the Drug Enforcement Administration arrested Ulbrichs brother, Matthew Ulbruth, and seized $20 million in drug money and cash from the Silk Road.
The latest hack, however, came as the FBI and the U:S.
Marshals Service have been investigating a separate Silk Road investigation.
The Federal Bureau of Investigation is currently investigating the case of a man who allegedly sold drugs on Silk Road before Ulbrath was arrested in January.