Some details of hacker who stole $4 billion bitcoins from Silk Road Blackmarket

A hacker named Raymond Ngan, aged 49, was arrested by the federal authorities in November 2020 and named as ‘Individual X’ who stole bitcoins worth $4 billion from Silk Road Marketplace between 2012 -2013.

Although, there is no concrete evidence that the arrested guy is the same person who indulged in the heist some years ago, the Department of Justice(DoJ) believes that the person arrested is the one linked to Ross Ulbricht- the founder of silk road dubbed ‘Dread Pirate Roberts’.

Note 1- Silk Road was a kind of dark web marketplace that served as a platform to allow sale of drugs from 2012 till the year 2013. And dark web sources say that this website used to entertain requests of over 100,000 buyers in the said time period. It was like an Amazon marketplace where any individual could buy or sell the drugs. But at the end of 2020, a hacker named ‘Individual X’ was caught hold by the law enforcement and admitted that he was the same guy who stole the bitcoins( now) worth $4 billion from the person who owned the online website silk road. After keeping his name under wraps, now the DOJ has released the individual’s identity as Raymond Ngan.

Note 2- After the arrest and revelation of Raymond, Las Vegas based businessman Jay Bloom accepted that the arrested individual was the same guy who involved in the cryptocurrency’s heist from the silk road.

Note 3- Not much is known about Raymond, but some Reddit users state that he was a graduate from MIT and also holds a degree of Wharton MBA.

Note 4-Ross Ulbricht is now serving a life imprisonment pronounced by the US Federal Court of Manhattan.

Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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