Posted: November 17, 2017
Silk Road Replacement Steals 40 Million Dollars in Bitcoins
When Silk Road was shut down multiple sites stepped in to fill the void of the online drug market and one of the larger sites that popped up was the Sheep Marketplace. The new market quickly grew with thousands of people sending Bitcoins for their purchases and even when the new Silk Road launched earlier this month many people continued to use the site, which appears to have been nothing more than a scam.
In total it is reported Sheep Marketplace stole 39,918 Bitcoins worth 40 million dollars from it users. The quotes below are from a Tapscape.com article about the theft;
“According to users of the site which have been posting primarily on Reddit, Sheep Marketplace appeared to be functioning in an odd way for at least a week. Concerns regarding the legitimacy of the site came into play once the administrators at the marketplace decided to prevent vendors from withdrawing any of their Bitcoins from the site.
With many of these vendors seeing sales in the tens of thousands each month, being unable to withdraw that money was causing people to become worried, especially with how much money was lost after the Silk Road was brought to its knees. As more and more vendors posted about their suspicions, the entire Sheep Marketplace Forum was shutdown.”
The site has since responded saying that they were robbed by an employee on the 21st of November, and that has caused the lock down, however, since that time none of the users have received any of their Bitcoins back from the website, so it is likely they will never see their coins again and the people behind Sheep Marketplace have just walked away with 40 million dollars.
Read more here: Tapscape.com