Bitcoin Worth $3 Million Moved from Dormant 10-Year-Old Road Wallets
Approximately 312 Bitcoin wallets, dormant for over a decade and linked to the infamous darknet marketplace Silk Road, have been activated, moving around $3.1 million worth of Bitcoin to an unknown wallet. According to analytics platform Arkham, these transactions occurred on December 10th. The funds, which had remained untouched since 2013 when Bitcoin was valued at roughly $100, have seen their value increase nearly 1,000-fold, with Bitcoin's current price around $92,300. This $3.1 million transfer is only a portion of the total funds in the cluster, which still holds an additional $38.5 million.
The movement of these coins follows the January 2025 pardon of Silk Road's creator, Ross Ulbricht, by former U.S. President Donald Trump, leading to his release from a life sentence. Prior to his pardon, Coinbase product director Conor Grogan had identified approximately 430 BTC across dozens of wallets that were suspected to belong to Ulbricht. These specific coins were never seized by authorities during the 2013 shutdown of the platform. The identity of the individual or entity behind the recent transactions remains unknown, and it is unclear if Ulbricht has any connection to them.
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