SonicSpike writes “An FBI official notes that the bureau has located and seized a collection of 144, 000 bitcoins, the largest seizure of that cryptocurrency ever, worth close to $28.5 million at current exchange rates. It believes that the stash belonged to Ross Ulbricht, the 29-year-old who allegedly created and managed the Silk Road, the popular anonymous drug-selling site that was taken offline by the Department of Justice after Ulbricht was arrested earlier this month and charged with engaging in a drug trafficking and money laundering conspiracy as well as computer hacking and attempted murder-for-hire. The FBI official wouldn’t say how the agency had determined that the Bitcoin ‘wallet’ — a collection of Bitcoins at a single address in the Bitcoin network — belonged to Ulbricht, but it was sure they were his. ‘This is his wallet, ‘ said the FBI official. ‘We seized this from DPR, ‘ the official added, referring to the pseudonym ‘the Dread Pirate Roberts, ‘ which prosecutors say Ulbricht allegedly used while running the Silk Road.” Read more of this story at Slashdot.
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FBI Seized 144,000 Bitcoins ($28.5 Million) From Silk Road Bust
On Thursday, Zynga released its third quarter results and showed a loss of only $68,000—far better than the embattled gaming company’s losses of $52 million this time last year. And, because that loss was small, beating Zynga’s own expectations for Q3, its shares got a 12 percent boost in after-hours trading on Wall Street, Thursday evening. Still, that modicum of good news is just a sugar coat on an otherwise dismal earnings statement. Zynga’s Q3 revenue was only $203 million, which constitutes a decrease of 36 percent year-over-year, and a decrease of 12 percent from the quarter before. Also, Daily and Monthly Active Users were both down for Zynga. The company lost almost a quarter of its Daily Active Users compared to Q2 2013 (and that statistic is becoming a bit of a trend: we saw that exact headline on last quarter’s earnings report, too). And Zynga lost nearly 30 percent of its Monthly Active Users from Q2 2013. From Q3 2012, the statistics were down 49 percent and 57 percent, respectively. But it looks like Zynga will be progressing conservatively from here. For the fourth quarter of 2013, the company projected revenue in the range of $175 million to $185 million (a substantial decrease from this quarter’s earnings) and a net loss in the range of $31 million to $21 million. After a summer in which the company laid off 18 percent of its workforce and shuttered Omgpop , a games company it acquired for $200 million, Zynga’s next few months will be watched carefully to see how (and whether) the company will weather 2014. Read on Ars Technica | Comments