Black Friday Sale! 50% Off All Access

U.S. Shuts Down Silk Road 2.0 Website Charges against the site's alleged owner carry a maximum sentence of life in prison.

By Reuters

Entrepreneur+ Black Friday Sale

Our biggest sale — Get unlimited access to Entrepreneur.com at an unbeatable price. Use code SAVE50 at checkout.*

Claim Offer

*Offer only available to new subscribers

This story originally appeared on Reuters

U.S. authorities said Thursday they have shut down the successor website to Silk Road, an underground online drug marketplace, and charged its alleged operator with conspiracy to commit drug trafficking, computer hacking, money laundering and other crimes.

Blake Benthall, 26, was arrested on Wednesday in San Francisco and was expected to make an initial court appearance in federal court there later on Thursday.

The charges against Benthall carry a maximum sentence of life in prison.

A lawyer for Benthall could not immediately be identified.

Silk Road 2.0 was launched late last year, weeks after authorities had shuttered the original Silk Road website in October and arrested its alleged owner, Ross Ulbricht, who went by the online alias, Dread Pirate Roberts.

"Let's be clear – this Silk Road, in whatever form, is the road to prison," Manhattan U.S. Attorney Preet Bharara, whose office is prosecuting both cases, said in a statement.

Benthall, known as "Defcon" online, became the operator of Silk Road 2.0 in December, one month after an unnamed co-conspirator launched the site, according to prosecutors.

Silk Road 2.0 provided an online bazaar where users across the world could buy and sell drugs, computer hacking tools and other illicit items, using the digital currency Bitcoin as payment, authorities said.

As of September, the site was generating at least $8 million a month in sales, they said.

The government's investigation included an undercover agent who was able to infiltrate the administrative staff of the website and interact directly with Benthall, prosecutors said.

Ulbricht, 30, has pleaded not guilty and is scheduled for trial in New York in January.

(Reporting by Joseph Ax; Editing by Bernadette Baum)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

'Father Time Always Wins': Warren Buffett, 94, Just Announced Major Changes to His Plan to Give Away His Money

Warren Buffett continued his Thanksgiving tradition with a $1.1 billion donation of Berkshire Hathaway stock to four of his family's foundations.

Growing a Business

Unlock Long-Term Business Success by Instilling These 5 Family Values

The core principles that hold a family together can also help you grow and maintain your business effectively. Here's what I've learned from my family business.

Starting a Business

Best Friends' 'Scrappy' Side Hustle Led to a Product on Track for $1 Million Annual Sales: 'Rare to Find Somebody With This Same Passion'

Alissa Sullivan and Leslie Hendin, co-founders of Liis, immediately bonded over their fragrance obsession when they met at a wedding in 2009.

Business News

Testers Leak OpenAI's New AI Video Generator, Claiming They Were Used as 'Unpaid Labor'

OpenAI, which is valued at more than $150 billion, has since shut down access to the text-to-video generator.

Starting a Business

Calling It Quits on Your Business? Dissolving It Before the Year Ends Could Save You Money — and Time

Not all businesses are meant to last. Some business ideas are just bad, and others were maybe once good but aren't any longer. In such scenarios, entrepreneurs have much to gain from the proper and timely retirement of business entities. Here's why and how you should do it before the end of the year.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.