On July 12, a crypto wallet controlled by the US Department of Justice (DOJ) sent roughly 9,825.25 Bitcoin related to the Silk Road seizure, totaling over $299 million.
Bitcoin Linked to Silk Road Moved On-Chain
On July 12, a crypto wallet controlled by the US Department of Justice (DOJ) sent roughly 9,825.25 Bitcoin related to the Silk Road seizure, totaling over $299 million.
Initially, the BTC was transmitted in two transactions to three different addresses. A single address received the majority of the coins, which were then distributed to 101 different addresses. Although previous transfers were made with the aim of selling, it is unknown if the coins were sold.
The coins most likely originates from its largest-ever seizure, which saw law enforcement seize $3.36 billion in Bitcoin in November 2021 after hacker James Zhong admitted to stealing digital assets from the illicit Silk Road marketplace.
The U.S. government previously disclosed that it intended to sell the remaining Bitcoins from the Silk Road seizure over the course of the rest of the year.
Large BTC holders have an impact on asset prices when they move significant sums of funds, therefore the crypto community frequently monitors their activities. BTC is down 0.53% following the news, at $30,351, according to CoinMarketCap.
