Shaun Bridges to Plead Guilty for Theft of Silk Road Bitcoins

Former Secret Service agent Shaun Bridges, accused of embezzling $820,000 worth of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term from online drug marketplace Silk Road during its investigation, has reached a plea deal with prosecutors.

According to court filings, he is scheduled to submit his guilty plea on August 31. He is charged with money laundering and obstruction of justice. Former Drug Enforcement Agent (DEA) Carl Force has also scheduled a hearing for August. He is also accused of pocketing bitcoins during the investigation, as well abusing his credentials to pocket more from other Bitcoin businesses.

Bridges allegedly used the credentials taken from an arrested Silk Road employee, Curtis Green, to transfer $820,000 worth of bitcoin to his personal account on Mt. Gox Mt. Gox Mt. Gox is the name of a Japan-based cryptocurrency exchange that was infamously hacked for 850,000 BTC worth roughly $450 million at the time in February of 2014. During July 2010 Mt. Gox formally launched Mt. Gox launched its exchange and price quoting service. It was subsequently sold to French developer Mark Karpelès in early 2011.Prior to its hacking, Mt. Gox suffered from other security vulnerabilities as early as June 2011. On 19 June, 2011, a security breach of the exchange caused the no Mt. Gox is the name of a Japan-based cryptocurrency exchange that was infamously hacked for 850,000 BTC worth roughly $450 million at the time in February of 2014. During July 2010 Mt. Gox formally launched Mt. Gox launched its exchange and price quoting service. It was subsequently sold to French developer Mark Karpelès in early 2011.Prior to its hacking, Mt. Gox suffered from other security vulnerabilities as early as June 2011. On 19 June, 2011, a security breach of the exchange caused the no Read this Term, and from there, to a Fidelity account.

Court documents indicate that he unlawfully carried out eight bank transfers of approximately $100,000, plus another two totaling over $250,000, between March 2013 and June 2014.

Bridges' attorney Steve Hale Levin told Bloomberg in an interview:

"Mr. Bridges has regretted his actions from the very beginning. His decision to plead guilty reflects his complete acceptance of responsibility and is another step towards rehabilitation."

The theft reportedly triggered "Dread Pirate Roberts" (DPR), Silk Road's mastermind, to order a murder-for-hire against Green, whom he apparently accused of stealing the bitcoins. The alleged plot was used by prosecutors to prove the extent of DPR's willingness to protect his criminal enterprise. Ross Ulbricht was convicted as DPR earlier this year, and sentenced to life in prison, without the possibility of parole, three weeks ago.

Bridges also allegedly harassed a number of bitcoin businesses, ostensibly to get his hands on more bitcoins, although he has not been formally charged in these incidents.