Almost $1B in Bitcoin Moved Around in Silk Road Wallet Addresses

Mysterious movements from the original Silk Road wallet suggest that the US government is cashing out on the Bitcoin gradually. The Silk Road market may be dead—we actually checked just to see if it came back somehow—but its wallet appears to be alive. Over a billion dollars in Bitcoin are being moved from several wallets that are all tied to the supposed original Silk Road cold storage wallet.

Reddit user sick_silk brought this to the public’s attention after publishing all of his research on the activity connected to Silk Road over the last three days. It turns out that whoever possesses the 60,000 coins—now worth around $422 million—is moving them quickly to several addresses, loading each with exactly 100 coins. The process took several steps, each one creating a new Bitcoin wallet and splitting the coins into two groups of 30,000, three groups of 20,000, and so on, and so forth.

The splits were done in a deliberately staggered manner that spanned four years, indicating that this isn’t the work of someone who is inexperienced with moving large amounts of money around without arousing suspicion. What’s more, it doesn’t appear that the wallet is accounted for by the FBI. Although the organization managed to confiscate a sizeable wallet from Silk Road, it wasn’t the only address the dark web marketplace possessed.

Source: cryptovest.com