Scarlett Madison Scarlett Madison is a mom and a friend. She blogs for a living at Social News Watch but really prefers to read more than write. Find her on Twitter, Facebook, and Pinterest.

Bitcoin suffers setback with Silk Road takedown

18 sec read

That didn’t take long. After Silk Road, a Bitcoin-based black market that specialized in drugs and other illegal purchases, was shut down by the FBI, values of a Bitcoin fell 15% and counting.

Bitcoin is taking it on the nose following the FBI seizure of Silk Road, a popular – and partially hidden – marketplace for drugs and other items generally outside the orbit of the law. As TechCrunch reported earlier today, about $1.2 billion in Bitcoin flowed through Silk Road, resulting in a nearly $80 million commission for the service.

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Scarlett Madison Scarlett Madison is a mom and a friend. She blogs for a living at Social News Watch but really prefers to read more than write. Find her on Twitter, Facebook, and Pinterest.

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