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Bitcoin Exchange CEO Arrested for Money Laundering

CyberneticTitan
By CyberneticTitan
in Tech News
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120822083345-bit-instant-2-monster.jpg

 

U.S. government agents have arrested Charlie Shrem, the CEO of Bitcoin exchange BitInstant, charging him with laundering money for customers of online drug bazaar Silk Road.
 
The U.S. attorney in the Southern District of New York said Shrem helped someone he hadn't met in person, Robert Faiella, sell more than $1 million worth of bitcoins to Silk Road customers. Faiella, a 52-year-old Florida man, allegedly ran an underground Bitcoin exchange using the alias BTCKing.
Shrem was arrested at John F. Kennedy International Airport in New York on Sunday, and Faiella was arrested at his home in Cape Coral, Fla., on Monday, prosecutors said. Both are charged with conspiracy to launder money and operating an unlicensed money transmitting business. Additionally, Shrem faces a charge for not tipping off the feds to what was allegedly going on.
 
 
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Even with a lot of money, they want even more.
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holy shit so it dose have something to do with silk road wow 

Specs

CPU: i5 4670k i won the silicon lottery Cooler: Corsair H100i w/ 2x Corsair SP120 quiet editions Mobo: ASUS Z97 SABERTOOTH MARK 1 Ram: Corsair Platnums 16gb (4x4gb) Storage: Samsun 840 evo 256gb and random hard drives GPU: EVGA acx 2.0 gtx 980 PSU: Corsair RM 850w Case: Fractal Arc Midi R2 windowed 

 

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Posted

 

 Both are charged with conspiracy to launder money and operating an unlicensed money transmitting business. Additionally, Shrem faces a charge for not tipping off the feds to what was allegedly going on.
 

In that sense no bitcoin exchange is safe. 

The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion.

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Well that went south real quick!

Intel Core i7 4770K | Gigabyte R9 290 OC 4GB Windforce Edition | MSI Z87-G45 Gaming Mobo

Noctua NF-S12A FLX 120 + 140mm Fans | Corsair H100i CPU Cooler | Samsung 840 EVO 250GB SSD | BitFenix Ghost Case

Seagate Barracuda 2TB | Corsair RM-850 PSU | G. Skill Sniper 16GB (4x4GB) | AOC G2460PQU 144Hz Monitor

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WOW

so the creator of bitcoin knew exactly what bitcoin was going to be used for xD

Nobody knows the identity of the person who created Bitcoin.

>_>

But anyways, back on topic, this doesn't surprise me.

COMIC SANS

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So is BitCoin mining dead now or what?

Main rig on profile

VAULT - File Server

Spoiler

Intel Core i5 11400 w/ Shadow Rock LP, 2x16GB SP GAMING 3200MHz CL16, ASUS PRIME Z590-A, 2x LSI 9211-8i, Fractal Define 7, 256GB Team MP33, 3x 6TB WD Red Pro (general storage), 3x 1TB Seagate Barracuda (dumping ground), 3x 8TB WD White-Label (Plex) (all 3 arrays in their respective Windows Parity storage spaces), Corsair RM750x, Windows 11 Education

Sleeper HP Pavilion A6137C

Spoiler

Intel Core i7 6700K @ 4.4GHz, 4x8GB G.SKILL Ares 1800MHz CL10, ASUS Z170M-E D3, 128GB Team MP33, 1TB Seagate Barracuda, 320GB Samsung Spinpoint (for video capture), MSI GTX 970 100ME, EVGA 650G1, Windows 10 Pro

Mac Mini (Late 2020)

Spoiler

Apple M1, 8GB RAM, 256GB, macOS Sonoma

Consoles: Softmodded 1.4 Xbox w/ 500GB HDD, Xbox 360 Elite 120GB Falcon, XB1X w/2TB MX500, Xbox Series X, PS1 1001, PS2 Slim 70000 w/ FreeMcBoot, PS4 Pro 7015B 1TB (retired), PS5 Digital, Nintendo Switch OLED, Nintendo Wii RVL-001 (black)

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So... is TigerDirect still going to accept Bitcoin then?

That's what I'm wondering...

Main rig on profile

VAULT - File Server

Spoiler

Intel Core i5 11400 w/ Shadow Rock LP, 2x16GB SP GAMING 3200MHz CL16, ASUS PRIME Z590-A, 2x LSI 9211-8i, Fractal Define 7, 256GB Team MP33, 3x 6TB WD Red Pro (general storage), 3x 1TB Seagate Barracuda (dumping ground), 3x 8TB WD White-Label (Plex) (all 3 arrays in their respective Windows Parity storage spaces), Corsair RM750x, Windows 11 Education

Sleeper HP Pavilion A6137C

Spoiler

Intel Core i7 6700K @ 4.4GHz, 4x8GB G.SKILL Ares 1800MHz CL10, ASUS Z170M-E D3, 128GB Team MP33, 1TB Seagate Barracuda, 320GB Samsung Spinpoint (for video capture), MSI GTX 970 100ME, EVGA 650G1, Windows 10 Pro

Mac Mini (Late 2020)

Spoiler

Apple M1, 8GB RAM, 256GB, macOS Sonoma

Consoles: Softmodded 1.4 Xbox w/ 500GB HDD, Xbox 360 Elite 120GB Falcon, XB1X w/2TB MX500, Xbox Series X, PS1 1001, PS2 Slim 70000 w/ FreeMcBoot, PS4 Pro 7015B 1TB (retired), PS5 Digital, Nintendo Switch OLED, Nintendo Wii RVL-001 (black)

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Nobody knows the identity of the person who created Bitcoin.

>_>

But anyways, back on topic, this doesn't surprise me.

going to crie now

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I'm gonna try and ask TigerDirect if they still accept Bitcoins.

 

EDIT: Phew, looks like they do.

Untitled

Main rig on profile

VAULT - File Server

Spoiler

Intel Core i5 11400 w/ Shadow Rock LP, 2x16GB SP GAMING 3200MHz CL16, ASUS PRIME Z590-A, 2x LSI 9211-8i, Fractal Define 7, 256GB Team MP33, 3x 6TB WD Red Pro (general storage), 3x 1TB Seagate Barracuda (dumping ground), 3x 8TB WD White-Label (Plex) (all 3 arrays in their respective Windows Parity storage spaces), Corsair RM750x, Windows 11 Education

Sleeper HP Pavilion A6137C

Spoiler

Intel Core i7 6700K @ 4.4GHz, 4x8GB G.SKILL Ares 1800MHz CL10, ASUS Z170M-E D3, 128GB Team MP33, 1TB Seagate Barracuda, 320GB Samsung Spinpoint (for video capture), MSI GTX 970 100ME, EVGA 650G1, Windows 10 Pro

Mac Mini (Late 2020)

Spoiler

Apple M1, 8GB RAM, 256GB, macOS Sonoma

Consoles: Softmodded 1.4 Xbox w/ 500GB HDD, Xbox 360 Elite 120GB Falcon, XB1X w/2TB MX500, Xbox Series X, PS1 1001, PS2 Slim 70000 w/ FreeMcBoot, PS4 Pro 7015B 1TB (retired), PS5 Digital, Nintendo Switch OLED, Nintendo Wii RVL-001 (black)

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I have been wondering how long until something like this happened.

Spoiler

Corsair 400C- Intel i7 6700- Gigabyte Gaming 6- GTX 1080 Founders Ed. - Intel 530 120GB + 2xWD 1TB + Adata 610 256GB- 16GB 2400MHz G.Skill- Evga G2 650 PSU- Corsair H110- ASUS PB278Q- Dell u2412m- Logitech G710+ - Logitech g700 - Sennheiser PC350 SE/598se


Is it just me or is Grammar slowly becoming extinct on LTT? 

 

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...and everything crashes.

Mobo: Z97 MSI Gaming 7 / CPU: i5-4690k@4.5GHz 1.23v / GPU: EVGA GTX 1070 / RAM: 8GB DDR3 1600MHz@CL9 1.5v / PSU: Corsair CX500M / Case: NZXT 410 / Monitor: 1080p IPS Acer R240HY bidx

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...and everything crashes.

The sad truth.  It doesn't matter if the charges stick or not.  I think Bitcoin is done.

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So is BitCoin mining dead now or what?

 

Asus R9 290, 2 for the price of one! wooooa!

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nooo BTCKing had great rates !

If your grave doesn't say "rest in peace" on it You are automatically drafted into the skeleton war.

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Why is everyone freaking out, this has happened multiple times now?

It's not like Bitcoin crashes because some small exchange is gone.

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