Bytes: What’s new in tech

Feds bust Bitcoin black market; Amazon unveils Kindle Fire HDX; A patent for designer babies

Feds bust Bitcoin black market

Some of the Internet’s more nefarious users are likely experiencing “intense panic,” said John Herrman in BuzzFeed.com. Last week the government shut down Silk Road, an online “black market” that uses virtual currencies such as Bitcoin to trade in products, including illegal drugs. Its founder was arrested for money laundering, hacking, narcotics trafficking, and trying to hire a hit man, but he’s not the only one “in serious trouble.” All the Bitcoin assets on the site were seized, so “any money held in a Silk Road account is no longer available to the users who deposited it.” The fallout has left Silk Road users—and dealers—empty-handed. It’s “just a reminder that, as silly as buying and selling drugs on Tor with Bitcoins sounds, it’s still buying and selling drugs.” Silk Road has processed hundreds of millions of dollars worth of orders in the virtual currency, so “the ripple effects of this shutdown will be massive.”

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us