Secret Service representative gets scarcely 6 years in jail for hidden bitcoin

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After pleading guilty to charges associated to a burglary of bitcoin during an review into a bootleg Silk Road marketplace, former Secret Service representative Shaun Bridges was condemned to 71 months in a sovereign jail for his actions. While Bridges was questioning Silk Road with former DEA agent Carl M. Force (also complicit in a theft), Bridges used his insider believe and administrator entrance to take as most as 20,000 bitcoin from Silk Road customers.

shaun-bridgesSpecifically, Bridges sealed drug dealers out of their accounts on Silk Road before transferring bitcoin in their accounts to his Mt. Gox account. At a time of a theft, a bitcoin was worth roughly $300,000.

If Bridges hadn’t been caught, 20,000 bitcoin would be value roughly 7.8 million dollars in U.S. banking during today’s sell rates. Of course, that’s presumption Bridges would have changed a bitcoin out of Mt. Gox before the exchange went bankrupt during early 2014.

Speaking about the crime, US District Judge Richard Seeborg said “This, to me, is an intensely critical crime consisting of a profanation of open trust from a open official. From what we can see, it was encouraged by greed. No depart or opposite is

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