The awakening of BTC. Hundreds of cryptocurrency wallets associated with the former online black market Silk Road were reactivated on Tuesday, December 9, after more than ten years of inactivity. This reactivation was marked by the transfer of several million dollars in Bitcoin (BTC) to a unique and unidentified address, which inevitably sparks the curiosity of the community.
Key points of this article:
Cryptocurrency wallets linked to the former Silk Road black market have been reactivated after a decade of inactivity, resulting in the transfer of several million dollars in Bitcoin to a mysterious address.
Despite these transfers, the wallets associated with Silk Road still hold a considerable amount of cryptocurrency, raising questions about the identity and intentions of the current holders.
Movements of funds from Silk Road
According to data provided by Arkham Intelligence, approximately 312 wallets linked to Silk Road have collectively transferred the equivalent of $3.14 million in Bitcoin. The recipient of these funds is the address 'bc1q…ga54', but the reason for this sudden resumption of activity after such a long period of dormancy remains unknown.
Despite this transfer, the wallets associated with Silk Road still hold a significant amount of cryptocurrency. Arkham Intelligence indicates that these addresses still hold approximately $41.3 million in BTC at the moment.
The Arkham teams monitor movements on the Bitcoin network hour by hour – Source: Arkham Intelligence
The history of Bitcoin and the darknet temple
The Silk Road market, now dismantled, was famous for facilitating the sale of illegal goods via the Internet, but it also played a historical role in popularizing Bitcoin as a means of transaction.
This transfer activity recalls earlier observations. In January, Coinbase CEO Conor Grogan had already identified about $47 million in BTC in wallets attributed to Ross Ulbricht, the founder of Silk Road.
It is worth noting that earlier this year, Ross Ulbricht, who was serving multiple life sentences, received a complete and unconditional presidential pardon signed by U.S. President Donald Trump. Ross Ulbricht gave his first public speech following his pardon, emphasizing the importance of decentralization and freedom for technological progress.
The unexpected movement of these bitcoins from dormant Silk Road addresses raises questions about the identity of the current holder(s) and the purpose of these transfers. These wallets remain under surveillance due to their history and the considerable amounts of BTC still present in them.
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