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Bitcoin used for money laundering of more than 1 billion dollars

by on30 January 2014 1640 times

Charlie Shrem, vice president of Bitcoin Foundation, which is among other things responsible for lobbying in favor of digital currencies, was arrested earlier this week in New York. With him was arrested Robert Faiella, a senior official of the same organization.


They are accused for money laundering via Bitcoin transactions on the black market, primarily the Silk Road. The mentioned amount is over one billion dollars. In addition, they are also under suspicion for trade illegal goods such as drugs and opiates on the mentioned site.

This is a huge legal blow to a group of influential business leaders who publicly lobbied for Bitcoin, which have been recently joined by the Winklevoss brothers, known as "true" founders of Facebook. After these arrests they said that they are very concerned about the further development of the situation and the value of Bitcoin. In light of this news the value of Bitcoin declined by more than 3%.

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Last modified on 30 January 2014
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