Yesterday CipherTrace published a report where it was reported that an anonymous user moved 69,370 Bitcoins from an address associated with Silk Road. We tell you everything!
Bitcoin associated with Silk Road
Silk Road was shut down by the US authorities in 2013, as the site allowed people to sell drugs and other illegal products. Two years later, its creator, Ross Ulbricht, was sentenced to life in prison.
Now CipherTrace has reported that the sum of 69,370 Bitcoins, or more than USD 960 billion, were moved in two transactions from a wallet connected to Silk Road.
Likewise, Elliptic, a crypto intelligence company, reported the movement. However, in the report Tom Robinson, co-founder of Elliptic, stated that he is not very sure who owns the funds.
“I would say that I am 60% sure that these funds are from Silk Road at the moment, I am not sure”Robinson said.
Recall that this wallet address associated with the Silk Road case, prior to the recent move, had the fourth highest balance of any Bitcoin address.
Also, keep in mind that an encrypted file has been circulating on hackers’ forums for the past year. Apparently, said file has the necessary crypto keys to get hold of the Bitcoins at this address.
Consequently, there is a chance, however small, that a hacker managed to obtain the keys. But, there is also the possibility that it was Ulbricht himself.
What do you need to know about this case?
According to Elliptic, Silk Road attracted about 150,000 buyers and, with it, 4,000 suppliers. Illegal negotiations and exchanges apparently took place, resulting in total sales of USD 183 million.
At the time, the FBI apparently seized approximately 174,000 Bitcoin that belonged to Ulbricht. After being confiscated, these Bitcoins were auctioned by the United States government.
However, it seems that the numbers do not give everything. The reason is that the total commissions earned by Silk Road are believed to have totaled 614,000 Bitcoins. So the question is: where is the rest?
Bear in mind that currently that amount of Bitcoin is valued at $ 6 billion.
“There has always been a suspicion that the proceeds of the Silk Road may remain in circulationRobinson said.
Who will be behind this movement? What will be the next step? We would like to know your opinion!