Near $1B in Bitcoin Moves From Silk Road Wallet For the First Time Since 2015

Near $1B in Bitcoin Moves From Silk Road Wallet For the First Time Since 2015

By Abhimanyu Krishnan | News | 4 Nov 2020


Blockchain cybersecurity and intelligence firm CipherTrace reported on Nov. 3 that almost $1 billion in Bitcoin (BTC) was moved from an address associated with the now defunct darknet marketplace Silk Road.

  • The wallet address, which has been dormant since April 2015, moved 69,370 BTC (approximately $951 million) through two transactions to a new address of the native segwit format
  • The wallet first sent 1 BTC as a test transaction, followed by the remained; CipherTrace suggests that this was to ensure that the BTC was not sent to the wrong address
  • Since the BTC was held before the Bitcoin Cash (BCH) and Bitcoin SV (BSV) hardforks, the holder(s) would have access to these tokens as well; both of these holdings have also been moved to new addresses
  • While CipherTrace believes that these transfers were likely made to stay up to date with the Bitcoin network, it also stated that hackers could have compromised the wallet

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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