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Silk Road moves $ 1 billion into Bitcoin
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Silk Road moves $ 1 billion into Bitcoin

Silk Road, was one of the most popular markets on the darknet for drugs and other, and closed permanently from FBI in 2013. The operation led to the arrest of the owners and the closure of the sites. Millions of dollars worth of Bitcoin were also seized.

In the following years, the US government auctioned these digital currencies on the US Marshals Service website. Years later, in 2020, it seems that the ghost of Silk Road remains.bitcoin fuels - Silk Road moves $ 1 billion into Bitcoin

According to blockchain tracker Elliptic, about $ 1 billion in Bitcoin, most likely from Silk Road, appears to be changing wallets (Bloomberg).

In particular, about 69.369 Bitcoin were transferred from a wallet that can be connected to the Silk Road. And this wallet is associated with an account that is the fourth richest Bitcoin address in the world, according to BitInfoCharts.

It is not clear whether the 69 thousand Bitcoins are transferred by law enforcement, the owner of Silk Road or a dealer. However, according to Tom Robinson, co-founder of Elliptic, the reason may be precautionary security measures.

Earlier today, Robinson said: "A copy of the wallet's encrypted file is reportedly circulating - if someone breaks the password they could snatch the Bitcoins. The wallet owner may have moved the BTC to a new wallet to prevent it. ”

Robinson speculated that these may have belonged to Ross Ulbricht, one of the co-founders of Silk Road, who is serving a life sentence in prison. However, from a realistic point of view, it would be unlikely that Ulbricht would have made this move from prison.

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