Silk Road Admin: We Have Repaid 82.09% Of the Stolen Funds

3 minute read

Posted by: DeepDotWeb

May 28, 2014

The latest announcement from Defcon, the silk road admin, letting the world know that following the hack that happened few months ago, and the bitcoins that were stolen in the amount of around 2.7$ million, the have now repaid 82% out of all the stolen funds, and will pay the rest in about 30 days, this is the announcement from Defcon as it appeared on the forums (http://silkroad5v7dywlc.onion/index.php?topic=41683.0;topicseen):


We are almost there.

In less than thirty days I will be drafting an unprecedented announcement that your resilience made possible: the announcement that Silk Road has repaid all victims of our February hack.

As of today, May 27th 2014, 82.09% of all victims of the Feburary hack have been fully repaid.

In June the world will be reminded that when faced with adversity, Silk Road’s community doesn’t run. We unite.

Our enemies may seize our servers, impound our coins, and arrest our friends, but they cannot stop you: our people.

You write history with every coin transacted here.

It is unprecedented for any entity, darknet or clearnet, to completely repay the victims of a Bitcoin hack.

We are sending a clear message of integrity and justice, louder than the slander our oppressors can push into the news.

History will prove that we are not criminals, we are revolutionaries.

We are slaving to transform a notoriously-violent industry into a safe online marketplace, removing the risk of face-to-face transactions.

We do not steal the People’s money like Goldman Sachs, Citigroup, and Morgan Stanley.
We bail each other out with our own sweat.
We are not puppets of fear or greed.
We do not run like the cowards at MtGox, TorMarket, or Sheep.

Silk Road is not here to scam, we are here to end economic oppression.
Silk Road is not here to promote violence, we are here to end the unjust War on Drugs.
Silk Road is not here to submit to authority, we are here to defend a foundational human right: freedom of choice.
Silk Road is not a marketplace,
Silk Road is a global revolt.

When the news hits that everyone has been repaid, do your part to help tear down the world’s misimpressions about what our movement stands for.

Four months of everyone’s hard work has almost generated one spark. Throw it into the petrol. Be prepared with your throwaway accounts. Tweet. Upvote. Blog. Email editors.

Repayment Update as of 2014-05-27:
Sales are trending slightly downwards, but not at a dramatic pace. Do not be alarmed by this, many new features are appearing over the next 14 days which will greatly increase the sales velocity. We are taking our time to perfect them and ensure that no security is compromised, but we are very excited to watch the growth ignite due to features no other market is providing.

Partially repaid: 100% of total victims’ Pending Balances
Fully repaid: 82% of total victims
Sales volume: 68% of pre-attack weekly sales
Estimated date all users are repaid if sales continue at this week’s pace:
June 18th, 2014
Escrow Disputes: 27% Resolved (Note: resolved Pending Escrow dispute decisions are reflected in Pending Balance until repaid)

Important Reminders
1. This estimated repayment date is not a promise. We are repaying everyone as soon as we get the funds. If sales increase, victims will get repaid sooner. The rate of repayment is directly tied to the pace of sales, and the commission earned on each sale.
2. We cannot release exact user counts, exact BTC owed, or sales figures for security reasons.
3. All escrow balances are currently being manually reviewed and resolved by staff. This is very tedious, and will take time. Our goal is to have all disputes settled within the estimated repayment time frame. We also plan to launch automated tools for this. Your escrow balances are safe.

On behalf of all users who lost funds in the attack: Thank you, recent buyers. Thank you, active vendors. Your good karma will surely bring you fortune in the months to come.

Silk Road will always rise again due to your resilience. It is an honor to serve you.


This announcement followed few previous announcements from Defcon about repaying 13% – 50% of the stolen funds.

Although we were looking hard, we never had a single solid testimony from a large vendor, or a known buyer who lost substantial amounts of money in the so called hack telling us he was repaid, most of the testimonies were from unknown users telling about small amount of BTC repaid to them, so this information is pretty hard to confirm. We do hope that everyone will get their money back of course.

Updated: 2014-05-28