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How Silk Road Bounced Back from Its Multimillion-Dollar Hack

Daniel_Stuckey (2647775) writes | about 4 months ago

0

Daniel_Stuckey (2647775) writes "“I am sweating as I write this I must utter words all too familiar to this scarred community: We have been hacked.” That is what Defcon, the current administrator of the infamous black market site Silk Road (the 2.0 version), wrote back in February on the site’s forums. In total, an estimated $2.7 million worth of bitcoin belonging to users and staff of the site was stolen. Some in the Silk Road community suspected that the hack might have involved staff members of the site itself, echoing scams on other sites. Project Black Flag closed down after its owner scampered with all of their customers' bitcoin, and after that users of Sheep Marketplace had their funds stolen, in an incident that has never been conclusively proven as an inside job or otherwise. Many site owners would probably have given up at this point, and perhaps attempted to join another site, or start up a new one under a different alias. Why would you bother to pay back millions of dollars when you could just disappear into the digital ether? But Silk Road appears to be trying to rebuild, and to repay users' lost bitcoins."
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