A crackdown on the deep web black market website 'Silk Road' lead to the arrest of Ross Ulbricht. According to the Associated Press, Ulbricht allegedly went by the internet handle the Dread Pirate Roberts. Prosecutors say he turned an underground website into a place where anonymous users could trade bitcoin for drugs and illegal services.
It is reported that at Ulbricht's arrest, over 144,000 bitcoins were seized from his computers, and he want's em back.
Deep web sites like Silk Road are online underground black markets where users, even kids, can buy drugs, guns, legal porn and other illegal services. Users typically use anonymous browsers like Tor to access these sites.
Bitcoins are a type of virtual currency used to buy products and services online and is very popular on these types of sites.