The supposed mastermind behind the Internet black market, Silk Road says he is not guilty. Ross Ulbricht and his lawyer are adamant that the former didn’t organize the narcotics, money laundering and hacking enterprise that was Silk Road.
The Internet was being used for a very bad purpose here. Everything from drug trafficking to money laundering and computer hacking was taking place on the site. And the fingers all pointed in the direction of Ross Ulbricht.
He however has pleaded not guilty before a Manhattan court. There are further reports that the law and Ulbricht may strike a deal. Some of the other players in the black market would be identified in return for a shorter jail sentence for Ulbricht.
Several of Ulbricht’s materials such as his laptop and logbook have been confiscated by the authorities. They will be scrutinized with hyper-vigilance for any signs of a connection between him and his alleged enterprise.
Ulbricht’s lawyer says that he will try and point out the illegality involved in digging out information related to the Bitcoin operated Silk Road. The NSA may have been up to its old spying activities.
Meanwhile, Ulbricht claims the government stole thousands of his Bitcoins. His lawyer has said that owning Bitcoins is not a bad thing but stealing them is. And such an action by the government reeks of lawbreaking on its part.