Backpage CEO Arrested, Site Likely to Be Shut Down

Texas police arrested CEO Carl Ferrer on Thursday and will move to shut down the site. The classified ad site is accused of human trafficking through its adult services section, which reportedly makes 90 per cent of its revenues.

The arrest was a joint operation between the Texas and California attorneys-general offices.

This case does not accuse anyone of providing or paying for adult services with bitcoin. However, digital currency was a popular payment method for site advertisers who could not use mainstream payment channels.

Bitcoin brokerage Paxful produced this video, pointing out ways advertisers can acquire bitcoin by first purchasing gift cards with cash, and exchanging with other site users.

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