Ross Ulbricht Found Guilty of Operating Silk Road Dark Market

A jury in New York ruled Silk Road creator Ross Ulbricht guilty on all charges including money laundering, drug trafficking and computer hacking.

AccessTimeIconFeb 4, 2015 at 9:35 p.m. UTC
Updated Aug 18, 2021 at 3:37 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Accused Silk Road mastermind Ross Ulbricht has been found guilty on all charges on the first day of jury deliberations.

Ulbricht, alleged by the US government to be the so-called Dread Pirate Roberts behind the now-defunct online black marketplace, was ruled guilty on a total of seven charges, which include narcotics trafficking on the Internet, conspiracy to commit money laundering and computer hacking.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • The jury received initial instructions on 4th February, and reached a verdict after three and a half hours of deliberation.

    The verdict marks the beginning of a new phase in Ulbricht’s long legal battle with the US government, which, according to courtroom reports, moved aggressively to oppose various aspects of the defense’s case in recent days.

    Ulbricht’s legal team, spearheaded by lead counsel Joshua Dratel, painted him as the fall man for the real person behind the Silk Road operation.

    While acknowledging that Ulbricht created Silk Road, the defense built its case that around the idea that the another Dread Pirate Roberts was responsible for the crimes with which Ulbricht was charged, suggesting at one point that Mt Gox CEO Mark Karpeles was the real force behind the Silk Road black market.

    Strong response to outcome

    The verdict sparked strong rebukes from Ulbricht supporters across social media channels, and reports indicate that the verdict was opposed by some of those in the court room today.

    — ChristopherMMatthews (@cmatthews9) February 4, 2015

    Others expressed concern about the broader development of the trial and whether or not the defense's case was unfairly derailed by government prosecutors.

    Ulbricht, who faces life in prison, now awaits sentencing.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.