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DOJ says it seized over $1 billion in bitcoin from the Silk Road drugs marketplace

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Two days ago, about $1 billion worth of bitcoin that had sat dormant since the seizure of the Silk Road marketplace in 2013, one of the biggest underground drug websites on the dark web, suddenly changed hands.

Who took it? Mystery over. It was the U.S. government.

In a statement Thursday, the Justice Department confirmed it had seized the 70,000 bitcoins generated in revenue from drug sales on the Silk Web marketplace from a hacker, known as “Individual X,” who moved the cryptocurrency from Silk Road into a wallet the hacker controlled.

The filing said that the identity of Individual X “is known to the government.”

At the time of the seizure on Tuesday, the bitcoin was worth more than $1 billion.

“Silk Road was the most notorious online criminal marketplace of its day. The successful prosecution of Silk Road’s founder in 2015 left open a billion-dollar question. Where did the money go? Today’s forfeiture complaint answers this open question at least in part,” said U.S. Attorney David Anderson in remarks.

“$1 billion of these criminal proceeds are now in the United States’ possession,” he said.

Silk Road was for a time the “most sophisticated and extensive criminal marketplace on the Internet,” per the Justice Department statement. In 2013, its founder and administrator Ross Ulbricht was arrested and the site seized. Ulbricht was convicted in 2015 and sentenced to two life terms and an additional 40 years, for his role in the operation. Prosecutors said the site had close to 13,000 listings for drugs and other illegal services, and generated millions of bitcoin.

The Justice Department said Thursday that the seized bitcoin would be subject to forfeiture proceedings.

Lyron Foster is a Hawaii based African American Musician, Author, Actor, Blogger, Filmmaker, Philanthropist and Multinational Serial Tech Entrepreneur.

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SpaceX successfully launches a Falcon 9 booster for a record seventh time

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SpaceX has launched yet another Starlink mission, adding 60 more Starlink satellites to its low-Earth orbit constellation. That’s good news for its efforts to blanket the globe in high-speed broadband, and today’s flight is even better news for its equally important ambition of developing more reusable rocket systems, since the first-stage booster that helped launch today’s Falcon 9 rocket made a record-breaking seventh trip.

SpaceX broke its own reusability records of six flights for a reused first-stage rocket component, and it also recovered the booster with a controlled landing using its drone flight in the Atlantic Ocean, which means it could potentially break this record with yet another future flight for this same booster.

Today’s launch took off from Cape Canaveral Air Force Station in Florida, lifting off at 9:13 PM EST (6:13 PM PST). The flight also uses a fairing cover to protect the payload on its way to space that had flown previously, including one half that’s flown one prior mission, and another that’s been used twice before.

SpaceX aims for greater usability as a way to continue to reduce costs – every time it flies a component used in a previous mission, it realizes some degree of cost savings vs. using all new parts. Today’s mission represents likely its most cost-effective flight to date as a result.

This is SpaceX’s sixteenth Starlink mission thus far, and it has now launched nearly 1,000 total small satellites for its constellation. The service is currently operating in beta, and recently expanded from parts of the U.S. to areas in southern Canada .

 

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Pinterest tests online events with dedicated ‘class communities’

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Pinterest is getting into online events. The company has been spotted testing a new feature that allows users to sign up for Zoom classes through Pinterest, while creators use Pinterest’s class boards to organize class materials, notes and other resources, or even connect with attendees through a group chat option. The company confirmed the test of online classes is an experiment now in development, but wouldn’t offer further details about its plans.

The feature itself was discovered on Tuesday by reverse engineer Jane Manchun Wong, who found details about the online classes by looking into the app’s code.

Currently, you can visit some of these “demo” profiles directly — like “@pinsmeditation” or “@pinzoom123,” for example — and view their listed Class Communities. However, these communities are empty when you click through. That’s because the feature is still unreleased, Wong says.

When and if the feature is later launched to the public, the communities would include dedicated sections where creators will be able to organize their class materials — like lists of what to bring to class, notes, photos and more. They could also use these communities to offer a class overview and description, connect users to a related shop, group chat feature and more.

Creators are also able to use the communities — which are basically enhanced Pinterest boards — to respond to questions from attendees, share photos from the class and otherwise interact with the participants.

When a user wants to join a class, they can click a “book” button to sign up, and are then emailed a confirmation with the meeting details. Other buttons direct attendees to download Zoom or copy the link to join the class.

It’s not surprising that Pinterest would expand into the online events space, given its platform has become a popular tool for organizing remote learning resources during the coronavirus pandemic. Teachers have turned to Pinterest to keep track of lesson plans, get inspiration, share educational activities and more. In the early days of the pandemic, Pinterest reported record usage when the company saw more searches and saves globally in a single March weekend than ever before in its history, as a result of its usefulness as a online organizational tool.

This growth has continued throughout the year. In October, Pinterest’s stock jumped on strong earnings after the company beat on revenue and user growth metrics. The company brought in $443 million in revenue, versus $383.5 million expected, and grew its monthly active users to 442 million, versus the 436.4 million expected. Outside of the coronavirus impacts, much of this growth was due to strong international adoption, increased ad spend from advertisers boycotting Facebook and a surge of interest from users looking for iOS 14 home screen personalization ideas.

Given that the U.S. has failed to get the COVID-19 pandemic under control, many classes, events and other activities will remain virtual even as we head into 2021. The online events market may continue to grow in the years that follow, too, thanks to the kickstart the pandemic provided the industry as a whole.

“We are experimenting with ways to help creators interact more closely with their audience,” a Pinterest spokesperson said, when asked for more information.

Pinterest wouldn’t confirm additional details about its plans for online events, but did say the feature was in development and the test would help to inform the product’s direction.

Pinterest often tries out new features before launching them to a wider audience. Earlier this summer, TechCrunch reported on a Story Pins feature the company had in the works. Pinterest then launched the feature in September. If the same time frame holds up for online events, we could potentially see the feature become more widely available sometime early next year.

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SpaceX targeting next week for Starship’s first high-altitude test flight

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SpaceX looks ready to proceed to the next crucial phase of its Starship spacecraft development program: A 15km (50,000 feet) test flight. This would far exceed the max height that any prior Starship prototype has achieved so far, since the current record-setting hop test maxed out at around 500 feet. Elon Musk says that SpaceX will look to make its first high-altitude attempt sometime next week.

This tentative date (these are always subject to change) follows a successful static test fire of the current SN8 generation prototype — essentially just firing the test spacecraft’s Raptor engines while it remains stationary on the pad. That’s a crucial step that paves the way for any actual flight, since it proves that the spacecraft can essentially hold together and withstand the pressures of active engines before it leaves the ground.

SpaceX’s SN8 prototype is different from prior versions in a number of ways, most obviously because it has an actual nosecone, along with nose fins. The prototypes that did the short test hops, including SN6, had what’s known as a mass simulator up top, which weighs as much as an actual Starship nose section but looks very different.

Musk added that the chances of an SN8 high-altitude flight going to plan aren’t great, estimating that there’s “maybe a 1/3 chance” given how many things have to work correctly. He then noted that that’s the reason SpaceX has SN9 and SN10 ready to follow fast, which is a theme of Starship’s development program to date: building successive generations of prototypes rapidly in parallel in order to test and iterate quickly.

We’ll likely get a better idea of when the launch will take place due to alerts filed with local regulators, so watch this space next week as we await this major leap forward in SpaceX’s Starship program.

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