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Silk Road Opens Eyes to Fraud

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In the past 2 years the public has become aware of the underground website called The Silk Road. The site was viewed as a criminal’s marketplace, where drugs, weapons and illegal services could be purchased. This website gained a lot of press when the website’s owner, Ross William Ulbricht, was arrested last year. It was owned and operated under the Tor hidden service, which allows sellers and buyers to operate in complete anonymity. People who purchased illegal goods or services paid with Bitcoin, which is a virtual currency that does not divulge personal information about the person who transfers it.

The Silk Road bust exposed a hidden online world of fraud and deception. While there are, in fact, legitimate reasons to use the Tor service, many people used it to hide their illegal actions. Many of these actions were extremely fraudulent. If you access an area called the Hidden Wiki, you will be exposed to a number of services which are predicated on fraud. One of these services is PayPal accounts. Some people sell hacked or stolen accounts for a flat rate fee, or for 10% of the total amount of money found inside the account.

Stolen or hacked PayPal, Amazon or regular bank accounts, are obtained through fraud. Fake e-mails often prompt people to submit personal information. This information is then used to gain access and control over someone else’s funds. Never open a suspicious e-mail, and report it if you believe it was sent by a criminal.