Yeliz Akmaca 
Silk Road-linked Bitcoin wallets have executed their largest movement in years. Approximately $3.14 million worth of BTC was transferred to an unknown new wallet, drawing renewed attention to Silk Road in digital markets.
Silk Road is known as one of the first major darknet marketplaces in cryptocurrency history. It also serves as a prominent example of how Bitcoin was used in illicit economies.
Unexpected Activity in Silk Road Wallets
According to blockchain analytics platform Arkham, wallets linked to Silk Road conducted 176 transactions on Tuesday. This represents the highest activity in the last five years. Previous years saw only a few minor test transactions. The new wallet, starting with bc1qn, holds only the $3.14 million transferred recently. The primary Silk Road wallets still contain about $38.4 million in Bitcoin.
This activity occurred following Ross Ulbricht’s full pardon by former U.S. President Donald Trump. Ulbricht, the founder of Silk Road, had been convicted of creating and operating the darknet marketplace and sentenced to double life imprisonment in 2015. After the pardon, supporters donated around $270,000 worth of Bitcoin to the Free Ross campaign.
Ulbricht May Still Hold Millions in Bitcoin
The U.S. government seized at least $3.36 billion worth of Bitcoin from Silk Road. However, some industry observers claim that Ulbricht may still possess several undiscovered wallets. Coinbase executive Conor Grogan revealed that 430 BTC, approximately $47 million, remains untouched in dormant wallets for over 13 years. Another wallet possibly linked to Ulbricht holds $8.3 million in Bitcoin, and in the past ten months, only three small test transactions were recorded.
Key details about wallets:
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176 transactions represent the highest activity in five years.
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The new wallet holds only $3.14 million in BTC.
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Primary wallets still contain $38.4 million.
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Undiscovered wallets potentially hold $47 million in BTC.
These movements demonstrate that Silk Road’s influence in digital markets persists and that some Bitcoin remains traceable. Experts note that the owner of the new wallet has not been confirmed, and any future transactions are being closely monitored.
Silk Road’s Ongoing Impact on the Crypto World
The resurfacing of Silk Road activity is seen as a warning for both darknet markets and cryptocurrency investors. Meanwhile, blockchain records continue to prove valuable for tracking past illicit activity and identifying potential risks in advance.
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