Quote from: cimine on December 04, 2013, 12:58:34 PM

Quote from: LouReed on December 04, 2013, 12:37:07 PM

Underground market called Sheep Market ran away with all it's users coins, or so the theory goes.

http://www.reddit.com/r/SheepMarketplace/comments/1rvlft/i_just_chased_him_through_a_bitcoin_tumbler_and/

LOL. And people spent money at a place called "The Sheep Market"? It sounds like the joke was built right into the name!

I saw the reddit thread but I still didn't understand the full story. So people pumped over 92,000 bitcoins into this fly by night "market"?

How did they pull this off?

That's exactly what I thought when I saw the name! Lead the "Sheep" to slaughter!

People just grew to trust them after the demise of Silk Road, and they got spanked for it! Sheep just simply took all of the Bitcoins that people had in their accounts on the site. That's the problem with these black markets, you have to put your trust into someone you don't know, and also take the risk that LE isn't going to shut the site down like SR, and seize your coins. For some, I guess the potential rewards outweigh the risk of loosing everything.