Former Secret Service agent Shaun Bridges pleads guilty to theft of $820K in bitcoin during Silk Road investigation (Joe Mullin/Ars Technica)

SAN FRANCISCO—Shaun Bridges, a former Secret Service agent who was investigating the Silk Road drug trafficking website, pled guilty today to charges of money laundering and obstruction of justice. Bridges’ scheme was straightforward and very profitable. After Silk Road admin Curtis Green was arrested in January 2013, he debriefed agents in Baltimore. Bridges took his admin credentials, logged in, and started locking Silk Road drug dealers out of their accounts. He then looted the accounts, grabbing about 20,000 Bitcoins, and put them into his own account. US District Judge Richard Seeborg read out each of the government accusations against Bridges in court today, and the man responded “yes sir,” acknowledging he had committed each of the acts. Shaun Bridges Bridges moved the Bitcoins into his Mt. Gox account. They were worth more than $300,000 at the time of the theft. Bridges moved the money into a Fideltity account called Quantum International Investments LLC between March and May of that year. By then, the bitcoins were worth about $820,000. Bridges also pled guilty to obstructing the Baltimore investigation of Silk Road and later to the internal investigation of his own behavior. At one point, he talked to a colleague who was being interviewed and agreed “to tell a consistent story” about his unauthorized use of a FINCEN database. The plea agreement includes sentencing recommendations, but it isn’t known what those are at this time. “You understand these are simply recommendations, and it will be for me to decide what the appropriate sentence is?” Seeborg asked. “I do,” said Bridges

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Former Secret Service agent Shaun Bridges pleads guilty to theft of $820K in bitcoin during Silk Road investigation (Joe Mullin/Ars Technica)

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