(Reuters) U.S. law enforcement authorities have shut down “Silk Road,” an anonymous Internet marketplace for illegal drugs like heroin and cocaine and criminal activities such as murder for hire, and arrested its alleged owner.

The Federal Bureau of Investigation said Wednesday it arrested Silk Road owner, Ross William Ulbricht, 29, known online as “Dread Pirate Roberts,” in San Francisco on Tuesday, according to court filings.

Ulbricht, who holds an advanced degree in chemical engineering, appeared in federal court on Wednesday and a bail hearing was set for Friday.

His lawyer Brandon LeBlanc, a public defender, declined to comment.

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