Convicted Silk Road founder, Ross Ulbricht, has spoken out about a new cryptocurrency scam that is allegedly using his name and reputation to defraud investors. Ulbricht, who is serving a double life sentence for his role in establishing the notorious online black market, issued a warning about the scam via his Twitter account.
According to Ulbricht, the scammers are promoting a meme coin called "DarkRoad," which they claim is associated with him. He has categorically denied any involvement with this project. He emphasized that he does not have any internet access in prison, and the only way he communicates with the outside world is through the mail or over the phone, which is recorded and monitored.
Ulbricht was convicted in 2015 for money laundering, computer hacking, and conspiracy to traffic narcotics. His website, Silk Road, was a darknet market that used Bitcoin for transactions, ultimately leading to his arrest and conviction. Despite numerous attempts at appeal and a significant public campaign requesting his clemency, his sentence has not been commuted. He has since devoted his time to writing and sharing his views on cryptocurrencies and the criminal justice system.
Ulbricht's warning about the DarkRoad scam serves as a timely reminder for investors to be cautious in the cryptocurrency space. Despite the potential for high returns, the sector is still rife with fraud and deception. Investors are urged to thoroughly research any cryptocurrency project before investing their money, and to be wary of any project that uses the name or image of a well-known figure without their explicit endorsement.
This is not the first time that Ulbricht's name has been used in a scam. In 2019, a similar scam involved a Bitcoin giveaway scheme that used his name and image. The scheme promised to donate a portion of the proceeds to his defense fund, which turned out to be false. All these scams underline the importance of vigilance and due diligence in the crypto world.