Key Takeaways
- A pockets related to seized Silk Street price range moved $1.08 billion in BTC.
- The cope with moved 39,174 BTC to 2 new wallets, and 9,825 BTC to a pockets reportedly belonging to Coinbase.
- The price range have been firstly seized from Silk Street exploiter James Zhong in November 2021.
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The DOJ could have despatched one of the seized Silk Street price range to Coinbase, however that doesn’t imply they’re about to liquidate.
$1.08 Billion in BTC
It seems that that a few of Silk Street’s bitcoins are at the transfer.
On-chain information presentations {that a} Bitcoin pockets cope with related to the U.S. govt moved roughly 49,000 BTC the day gone by—a sum value more or less $1.08 billion on the time of writing.
The cope with, which starts with BC1QMX, transferred about 9,000 BTC ($199 million) to an cope with starting in BC1QE, then 30,174 BTC ($667 million) to a 2nd cope with starting in BC1QF, and 9,825 BTC ($217 million) to a 3rd cope with beginning in 367YO. A bit of over 825 bitcoins ($18 million) stay within the unique cope with.
In step with on-chain safety company PeckShield, the unique cope with belongs to the U.S. govt, which makes use of the pockets to retailer one of the 50,676 BTC ($1.12 billion) it seized from Silk Street exploiter James Zhong in November 2021. Zhong bought the sum by means of exploiting the darknet market’s withdrawal mechanism in September 2012. He pleaded to blame to at least one rely of cord fraud in November 2022.
The primary two addresses, which gained a mixed overall of 39,174 BTC, have been freshly created. Alternatively, PeckShield known the 3rd cope with (367YO) as belonging to U.S.-based crypto change Coinbase. Bitcoin on-chain analytics company Glassnode and on-chain analytics company Lookonchain each echoed PeckShield’s findings. Crypto Briefing was once not able to independently test pockets possession.
The transferring price range precipitated hypothesis on Twitter that the Division of Justice could also be in the hunt for to promote one of the bitcoins it despatched to Coinbase. That turns out not likely, then again, because the U.S. govt has traditionally elected to liquidate its bitcoin holdings thru public auctions.
Disclosure: On the time of writing, the creator of this piece owned BTC, ETH, and several other different crypto belongings.
