The Inquirer-Home

Millions in Bitcoins were pinched from the Silk Road

Petition calls for a response from the government
Fri Feb 14 2014, 16:08

A WEB USER HAS REACTED with dark humour to the news that the Silk Road exchange has been plundered of its billions in Bitcoin currency.

A petition has been placed on the White House petitions website that asks for an immediate and full response from the US government regarding what happened to the funds held in trust by the Silk Road.

"The Silk Road 2.0 was robbed for millions upon millions of dollars on 2/13/14. Any hard working, tax paying citizen who trusted this establishment to hold their hard earned Bitcoins has them no longer. The only thing they have to show now is a tear in their eye and a broken heart," reads the petition.

"And just when you think the drug trade is full of nothing but honest, trustworthy individuals, a few bad apples have to go and ruin it for everyone."

It is something of a joke, and while it requires 100,000 signatures to be taken seriously, it presently has just one. This is possibly because some serious people will have lost some serious coin.

"What is this world coming to when you can't trust drug dealers? Well, I can tell you the Silk Road has lost my business and I plan to write quite the nasty letter to management in the morning," adds the author.

"This aggression will not stand Mr President. I expect the DEA, FBI, ICE and the CIA's total cooperation in reimbursing us for our devastating loss, plus interest of course."

The Silk Road 2 was also attacked and that has been commented on in forums there. "We have been hacked," says the statement, which has been repeated by the Deepdotweb news website.

"Nobody is in danger, no information has been leaked, and server access was never obtained by the attacker. Our initial investigations indicate that a vendor exploited a recently discovered vulnerability in the Bitcoin protocol known as 'transaction malleability' to repeatedly withdraw coins from our system until it was completely empty."

This sounds like the same thing that prompted warnings from other Bitcoin exchanges this month. However, more damage was done in this instance.

"This community has suffered great financial loss over and over again, and I am devastated that it has happened again under my watch," adds the post. "Hindsight is already suggesting dozens of ways this could have been prevented, but we must march onward."

Estimates put the losses at over $2m. µ


Share this:

blog comments powered by Disqus
Subscribe to INQ newsletters

Sign up for INQbot – a weekly roundup of the best from the INQ

Existing User
Please fill in the field below to receive your profile link.
Sign-up for the INQBot weekly newsletter
Click here
INQ Poll

Microsoft Windows 10 poll

Which feature of Windows 10 are you most excited about?