On the afternoon of October 2, 2013, the FBI implemented a carefully organized operation to identify one of the world's most dangerous criminal kingpins. Rather than doing so in a South American jungle, a Mexican compound, or behind the walls of a gated Miami mansion, the activity took place in the science fiction section of a public library in San Francisco.
In addition, unlike most international kingpins, the FBI's target may not have ever caught a gun or a drug in his life, but he did actually handle a computer keyboard, and it was with that keyboard that he allegedly developed and ran Silk Road, the largest illicit marketplace on the internet.
FBI Captures Darknet Operator
For months, FBI agents had been tracking their target. Under the alias 'Dread Pirate Roberts,' this small kingpin managed primarily out of a room he maintained in an apartment across the street from a coffee shop. He occupied a home with two individuals he met on Craigslist. They recognized him as "Josh." He made on-time cash rent payments each month.
The FBI understood that "Josh" could be setting up business at his neighbourhood library rather than the coffee shop on this particular October afternoon. As expected, they tracked their target to the library, where he began his laptop at approximately 3:15 p.m. Agents were requested that they wait until "Josh" signed into his social media and email accounts and provided his laptop password. A few feet away, two undercover FBI agents, a male and a female, started an imagined lover's argument after receiving the signal.
A group of agents got in to arrest "Josh" while the fictitious lovers shouted at one another. After unlocking the laptop, an agent offered it to a senior IT specialist. The IT specialist changed all of the administrator passwords on the PC right away. Agents examined the 29-year-old to target his rights, as he is now in handcuffs. Ross Ulbricht was "Josh's" real name.
Bitcoin Fortune
Ross Ulbricht acquired 144,000 bitcoins throughout his tenure as Silk Road's operator in exchange for handling those $9 billion in transactions.
On the day of his encounter in October 2013, a single bitcoin was worth $121. Ross was, therefore, estimated to be worth around $17.4 million at the time of his arrest.
On the day of his conviction in February 2015, Bitcoin was worth $220. Ross had 144,000 coins estimated at $31.7 million at that level.
I sincerely hope Ross isn't able to examine the price of Bitcoin from prison for his sanity.
As of January 21, 2025, the cost of Bitcoin is $106,000. At that price, Ross Ulbricht's 144,336 coins would be worth $106,000.
Bitcoin Worth: $15.3 billion
Technically, $15,299,616,000.
If Ross were released from prison and still had access to his 144,000 coins, he would rank among the 200 richest people in the world.
What Happened To Ross Ulbricht's Bitcoins?
Federal agents captured at least some of Ulbricht's Bitcoin accounts. In an unexpected and strange turn of events, a Baltimore secret service agent who assisted in apprehending Ross was also taken into custody and accused of taking part in Ross' Bitcoin.
In November 2017, he received a six-year prison sentence. In mid-2014, the US Marshals Service held nine auctions for 30,000 Ross coins. Tim Draper, a venture capitalist, won all nine sales. In total, Tim invested $19 million for 29,657 bitcoins. At today's prices, Tim's stash is worth = $3.14 billion, $7.3 billion.