silk road bitcoin wallet $1 billion dollars

Dark Web Marketplace Silk Road Sees Bitcoin Wallet Funds Being Moved For First Time Since March 2014

Fascinating evidence has been uncovered that suggests that the owner of a huge SilkRoad related wallet is transferring funds actively for the last 3 days. The wallet owner does so by dividing it in chunks of 100 coins by subwallets.

Silk Road was an online black market and the first modern darknet syndicate, best known as a platform for peddling illegal narcotics. As part of the dark web, it was operated as a Tor hidden service, such that online users were able to browse it anonymously and securely without likely traffic monitoring. Bitcoin was the primary source of currency being used on Silk Road which propelled the early adoption of cryptos. However, Bitcoin had always been tainted because of this association.

The news is reported by a Reddit user who posted the news on the popular subreddit r/bitcoin. The post says that the primary wallet held 111,114.62 $BTC / $ BCH, which is currently estimated to be almost $844M (without taking into account other Bitcoin forks).

Prior to this, there was no action in the wallet after March 2014. Interestingly, the proportion of the parts has been diminishing over time. The chunks were first being divided into 60,000 coins then to 30,000 / 20,000 / 10,000 / 5,000 / 500 and now 100 coins.

It is to be noted that the Redditor who reported this movement merely made the account prior to this post. With no account of post history, the identity of the reporter remains a mystery.

Then, to add fuel to the fire, Vin Armani had posted this regarding the Silk Road bitcoin wallet worth nearly $1 billion between bitcoin (BTC) and bitcoin cash (BCH):

Interesting to see right? We also just published this which is fascinating insights regarding Satoshi and the bitcoin wallets associated there:

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