• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: SEC Files Complaint Against Crypto Exchanges In $14 Million Fraud Scheme
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: SEC Files Complaint Against Crypto Exchanges In $14 Million Fraud Scheme

Former US Federal Agent Pleads Guilty to $800,000 Bitcoin Theft

Armaan Chandnani
by Armaan Chandnani
Last Updated: September 3, 2015 8:00 am
·
Posted in Bitcoin, Bitcoin Politics, Breaking Bitcoin News, Breaking News, News, News teaser, Online Privacy, Team, Trending
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ross Ulbricht, founder of the infamous Silk Road drug market, will be remembered as one of bitcoin’s most relevant contributors, a man that grew bitcoin’s relevance to extraordinary levels, and became instantly popular following his arrest. Silk Road was a dark net market that ran on the TOR Network. At its peak, Silk Road accounted for 70% of all dark net drug sales. People wondered whether Ulbricht’s arrest was justified; consequently, his prison sentence became controversial as well. In the midst of the controversy it was later discovered that federal agents infiltrated the administration of the Silk Road under fake identities, which led to Ulbricht’s arrest. Additionally, it was uncovered that these agents were responsible of stealing bitcoin while they worked for the site. One particular agent, Shaun Bridges has recently plead guilty to stealing over $800,000 USD worth of bitcoin.

Also read: Silk Road Shutdown Only Temporarily Stifled Online Drug Sales

Following the guilty plead by Carl Force, the hearing for Shaun Bridges was held past Monday, August 31, 2015. Shaun Bridges plead guilty to stealing over $800,000 in bitcoin. Bridges also admitted committing the crimes of money laundering and obstruction of justice. In stealing the bitcoin, Bridges used a simple yet effective strategy. After the arrest of Silk Road administrator Curtis Green, Bridges logged into the Silk Road using Green’s login credentials,  proceeded to lock vendors out of their accounts, and looted their accounts into his own bitcoin address.

Bridges tried to launder the bitcoins by transferring them into his MtGox account and moving them into Shauna Fidelity account he created under the name “Quantum International Investments LLC.” His actions led Ross Ulbricht to believe that an administrator was stealing from Silk Road. Ulbricht allegedly reacted by hiring a hitman to eliminate this person he thought stole the coins. Bridges’ lawyer Steve Levin said this in regards to Bridges:

“He’s regretted his actions since the beginning, and he’s trying to put this behind him, It’s a very stressful time.”

Ironic considering what the prosecutor for the State, Katherine Haun, said in regards to Bridges being a flight risk:

“The defendant had been actively trying to change his name and social security number in the state of Maryland. That’s very concerning.”

Allegedly, Bridges tried to change his last name to coincide with his wife’s last name, and also tried to change his social security. Haun said that Bridges handed over 4 firearms to this date, and that a change of name would enable him to purchase firearms once again. Furthermore, Bridges was forbidden from changing his name or other personal information. He is also being monitored electronically and has had curfews placed on him. Bridges will be sentenced in December of this year.

It is no secret that many people wanted Ross Ulbricht to have a lighter sentence than what he received. And, to be fair when considering the things he did as the owner of the Silk Road, his sentence does seem quite harsh. We have been put in a situation that creates feelings of distrust in the government’s judicial and executive branches. Law enforcement can no longer be trusted by the general public when they see how agents like Shaun Bridges and Carl Force fold to the temptations of power and money. In this light, the meant to protect and serve have become the ones that cause harm. The government did root out its corrupt agents, though, and justice is being had against Bridges and Force.

Furthermore, there is a discussion to be had regarding the sentencing of both Shaun Bridges and Carl Force. Can we trust that the judicial system will keep true to its promise of impartiality in the court even when a member of the government’s police force faces prosecution? Can we be sure that he would not receive special treatment of any kind? We certainly cannot be sure. There is no way of removing corruption where it iss already present. However, the judicial system has proven to be more reliable than the people’s general consensus of its effectiveness. Ross Ulbricht’s lawyer will appeal the decision made by the court using the information they have on Bridges and Force. We must wonder whether or not there is enough information to dismiss the case against Ulbricht. Although far-fetched, Ulbricht could receive a decrease in his sentencing. However, nothing is certain, and anything could happen in the American judicial system

Is the sentencing against Shaun Bridges and Carl Force fair? Will Ulbricht’s court appeal work in his favor? Let us know in the comments below!


 

Images provided by: Pixbay

The opinions expressed in this article are not necessarily those of Bitcoinist.net.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Armaan Chandnani

Armaan Chandnani

Follow

Born and currently living in Panama. Currently studying finance as a major. I have a great passion for bitcoin and cryptocurrency as a whole. Feel free to comment! I am sure we will have interesting discussions.

Full Profile

Related Posts

Bitcoin

Bitcoin Hashrate Drop Puts Miner Pressure Back In Focus: Analysts

12 hours ago
「地址投毒」新陷阱:巨鯨慘賠 5,000 萬 USDT!解析駭客如何偽造相似地址,讓資深交易員也中招

「地址投毒」新陷阱:巨鯨慘賠 5,000 萬 USDT!解析駭客如何偽造相似地址,讓資深交易員也中招

14 hours ago
台北成為亞洲撲克賽新熱點 Frankie C夫婦為什麼在台灣走紅?

台北成為亞洲撲克賽新熱點 Frankie C夫婦為什麼在台灣走紅?

16 hours ago
Bitcoin

Can Bitcoin Price Still Pump Above $100,000 Before December Ends?

17 hours ago
มาสคอต Bitcoin Hyper นั่งบนเครื่องบิน ถือกระเป๋าลาย BTC ข้างตัว

แรงคาดหวัง Santa Rally กลับมาอีกครั้ง หลัง Bitcoin ขยับใกล้ $90k ขณะที่ Bitcoin Hyper ระดมทุน Presale ทะลุ $29.6m

18 hours ago
Bitcoin

Bitcoin’s Post-Quantum Shift Could Take A Decade, Crypto Exec Says

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Fhenix Introduces Privacy Stages and Launches Fhenix402

    Fhenix Introduces Privacy Stages and Launches Fhenix402, a...

    14 hours ago
  • Why LiquidChain ($LIQUID) Crypto Presale Is Being Watched...

    20 hours ago
  • Digital investors

    Digital investors are presented with fresh opportunities as...

    1 day ago
  • You Think Ledger Is Secure? Wait Until You See What...

    2 days ago
  • Bitcoin เข้าสู่ช่วงชะงัก!...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.