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Bitcoin exchanges investigated over possible Silk Road connections

The FBI has issued subpoenas to a number of bitcoin exchanges as it continues its investigations into the site.

Image: Frank Jordans/AP

BITCOIN EXCHANGES ARE being investigated in relation to possible links to Silk Road, the illegal online market which was shut down by the FBI last year.

The Wall Street Journal reports that the FBI has issued subpoenas to a number of bitcoin exchanges such as as MtGox, one of the most popular exchanges globally before it filed for bankruptcy.

As well as looking for customer-transaction logs from each exchange, both prosecutors and the FBI are investigating whether the exchange and others similar companies could have processed transactions connected to it.

The investigations are currently at an early stage and currently no conclusions have been made as to the role played, if any, by any of the exchanges investigated.

Silk Road was an online marketplace which allowed users to anonymously purchase illicit goods and services using bitcoin.

When it was shut down by US authorities in October, its alleged founder, Ross Ulbricht, was charged with several counts of conspiracy and other charges. He has pleaded not guilty and has denied being its founder.

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