Guilty Plea in Silk Road Case: Defendant Admits to Charges as 8,100 Bitcoins Are Seized Bitcoin Seizure: Silk Road Perpetrator Pleads Guilty In 8,100 BTC Confiscation Case

A leading UK drug dealer implicated in the biggest Bitcoin confiscation by the US Drug Enforcement Agency (DEA) has confessed to creating a vast collection of illegal digital storefronts, as disclosed by the US Department of Justice. A significant Dark Web drug trafficking scheme has been uncovered. Banmeet Singh, a 40-year-old man from Haldwani, India, admitted to charges related to planning to distribute illegal drugs and to engaging in money laundering schemes. Singh was accused of operating a network that promoted the sale of various illicit drugs like fentanyl, LSD, ecstasy, Xanax, ketamine, and tramadol on infamous dark web marketplaces such as the original Silk Road, its sequel, AlphaBay, Hansa, and more. In a separate subject matter, an insider associated with Ethereum criticized the cryptocurrency’s founders, labeling Vitalik Buterin as foolish and Joe Lubin as antisocial. The DOJ’s probe revealed that consumers purchased drugs from Singh’s online platforms, paying with Bitcoin or alternative digital currencies. Singh directly managed the transport of these illegal drugs from Europe to the United States by using a range of courier methods, which included the United States Postal Service. From the middle of 2003 to July 2017, Singh was in charge of eight drug distribution networks scattered throughout America, with bases in places such as Columbus, Florida, North Carolina, Maryland, New York, North Dakota, and Washington, among others. These networks would import narcotics from abroad, repackage them, and then send them out to various destinations within all 50 states of the U.S., as well as to international locations like Canada, England, Ireland, Jamaica, Scotland, and the US Virgin Islands, as reported by the Department of Justice. Additionally, a substantial amount of Bitcoin was confiscated in the process. Singh, who was taken into custody in London in April of 2019, was subsequently handed over to the United States’ authorities in 2023. He is among the eight individuals who belong to this narcotics distribution network and have been found guilty of drug trafficking offenses throughout the United States. Kenneth L. Parker, the US Attorney, commented on the issue: Within the drug transaction records of the Singh group, individuals often mentioned the supplier “Liston” and consistently concluded their communications with the catchphrase, “I’m still dancing.”