$5.3M Bitcoin Theft Shuts Down Drug Website

Some believe the money was stolen by the website's operator

   

Sheep Marketplace, a website that sold drugs for bitcoins, shut down after a user stole $5.3 million worth of bitcoins on Nov. 21.

The virtual currency was stolen by a vendor on the website that used a glitch in its system to obtain the bitcoins. The site had been trying to resolve the theft, but has finally decided to shutdown. User’s who visited the website were met with a message announcing the shutdown that read “Your money, our provisions, all was stolen,” reports BBC News.

Many of the users at Sheep Marketplace moved to new sites after the shutdown. One such site is Black Market Reloaded, which had to stop letting users register on Dec. 1 due to the large amount of users from Sheep Marketplace that were trying to access the site.

According to Motherboard, some people are under the impression that Sheep Marketplace was a scam and that the operator of the website stole the money. One person has even gone so far as to create a website dedicated to highlighting the reasons why they believe that the drug website was a scam.


Article printed from InvestorPlace Media, http://investorplace.com/2013/12/5-3m-bitcoin-theft-shuts-drug-website/.

©2014 InvestorPlace Media, LLC

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