2024

United

Silk Road

Read

<div class="cryptonews">
 <p class="is-style-lead">A Silk Road drug lord who was extradited from the U.K. admits to operating an illicit drug network and surrenders $150 million in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>.&nbsp;</p>
 <p>According to the U.S. Department of Justice, Banmeet Singh, a 40-year-old individual from Haldwani, India, has pleaded guilty to operating an illegal drug distribution network. He utilized various dark web platforms, including notable ones like Silk Road, Alpha Bay, and Hansa, for selling an array of controlled substances.&nbsp;</p>
 <p>Singh’s operation involved customers placing orders through his online storefronts and paying in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies. He then facilitated the shipment of these drugs, primarily from European sources, into the U.S. via postal services or other delivery methods.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Banmeet Singh plead guilty today in a dark web narcotics case involving $150 million, which is believed to be the <a rel="noopener noreferrer nofollow" title="largest" href="https://thebittimes.com/tag/largest.html">largest</a> single <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency financial <a rel="noopener noreferrer nofollow" title="seizure" href="https://thebittimes.com/tag/seizure.html">seizure</a> in DEA history. Read more about it here https://t.co/fxcNXfBNbu. pic.twitter.com/i372s0Z9zl</p>— DEADetroit (@DEADETROITDiv) January 26, 2024
   </blockquote>
  </div>
 </figure>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> U.S. government to sell over $131m in Bitcoin seized from Silk Road
 </div>
 <p>Acting Assistant Attorney General Nicole Argentieri highlighted how individuals like Singh mistakenly believe they can conceal their illegal activities within the dark web’s anonymity. Singh’s conviction is a testament to the efforts of law enforcement in penetrating these hidden sectors of the internet. The plea agreement includes a forfeiture of around $150 million in cryptocurrency assets. It was revealed that Singh’s drug transactions often used the pseudonym Liston.</p>
 <p>Singh’s illegal enterprise, active from mid-2012 to July 2017, included at least eight distribution networks within the United States. These networks were spread across various states, including Florida, Maryland, New York, and Washington. Singh’s distribution cells were responsible for receiving drug shipments from abroad, repackaging them, and then redistributing them across all 50 states, as well as to international destinations like the U.K. and Canada.&nbsp;</p>
 <p>Throughout the duration of this conspiracy, the Singh-led organization trafficked hundreds of kilograms of controlled substances across the United States. This large-scale operation generated millions of dollars, which were subsequently laundered into cryptocurrency accounts, forming a substantial illicit drug empire.</p> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/silk-road-drug-lord-forfeits-150m-in-dea-s-largest-ever-crypto-seizure-tbt77910.html">https://thebittimes.com/silk-road-drug-lord-forfeits-150m-in-dea-s-largest-ever-crypto-seizure-tbt77910.html</a></p>

Silk Road drug lord forfeits $150m in DEA’s largest ever crypto seizure

TheBitTimes

Other articles published on Jan 26, 2024

The 4 Early Projects to Watch Before Going Mainstream in 2024

Analyst backs Kelexo, Solana and Litecoin sliding

Shiba Inu (SHIB) Millionaire Shows Interest in Retik Finance (RETIK) As Token Raises $10.5 Millio...

Shiba Inu’s Token Burning Rate Surges, Attracting Crypto Community Attention

Bitcoin stabilizes as JP Morgan reports the end of GBTC profit-taking

Bitcoin Network Hits Historic 1 Million Milestone - How Will BTC Price React?

Join our free newsletter for daily crypto updates!