How did the founder of Silk Road use cryptocurrencies to facilitate illegal activities?

1 answers

• May 05, 2022 · 3 years ago
  The founder of Silk Road, Ross Ulbricht, leveraged cryptocurrencies to enable illegal activities on the dark web. By using Bitcoin as the primary currency on Silk Road, Ulbricht created a platform where users could buy and sell drugs, weapons, and other illegal goods without revealing their identities. Bitcoin's decentralized nature and pseudonymous transactions made it difficult for authorities to track and trace the flow of funds. Ulbricht also implemented a rating system and an escrow service to ensure secure transactions and build trust among users. The use of cryptocurrencies on Silk Road played a crucial role in facilitating illegal activities by providing a secure and anonymous payment method.
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