Silk Road’s crypto-wallet recently became active again after more than five years.
An unknown user moved about $1 billion in BTC, probably to keep up with the network.
Even CipherTrace, which reported the move, did not rule out the possibility that someone hacked the wallet.
According to recent information, an unknown user recently moved $1 billion of Bitcoin from a crypto-wallet address associated with the dark web market Silk Road. The funds were locked away a long time ago, with no activity between 2015 and today.
The history of Silk Road
Silk Road, the dark web market, was one of the largest early markets in the world accepting Bitcoin payments. For the right price, anyone could buy any illegal goods or pay for illegal services, and because of the alleged anonymity at the time, they were among the earliest Bitcoin users.
Since all this was, of course, completely illegal, the authorities had a strong incentive to crack down on it, and that is exactly what they did. Silk Road was closed down in 2013 and its creator, Ross Ulbricht, was arrested, found guilty of numerous crimes – including hacking, conspiracy to traffic narcotics, money laundering and more – and is currently serving two life sentences.
The money tied to the market was found in a wallet that has been circulating among hackers for over two years after the raid. However, the activities finally stopped and the last recorded transaction took place in April 2015.
Silk Road’s wallet sees new activity after five years
For a long time everyone believed that the history of the Silk Road was over. Then, without any warning, the wallet recently saw new activity when someone started moving Bitcoins.
The unknown user first moved 1 BTC, probably to test the network. Then they started moving the remaining coins.
According to Ciphertrace, the transactions were probably done to “keep up with the Bitcoin network”. In other words, the crypto user wanted to switch between address formats.
Another possibility that ciphertrace did not rule out is that someone simply hacked the wallet. After all, there was a Twitter user who claimed to own the file wallet.dat in September. The user discussed with the crypto community the possibility of gaining access to Silk Road’s coins, and even suggested using a quantum computer to break in.
Whether this is the same user or not is unknown, but be that as it may, the Silk Road coins are now on the move again.