The cryptocurrency wallet associated with the dark web market Silk Road has begun to show unusual activity again, less than a year after U.S. President Trump granted a full pardon to its founder, Ross Ulbricht.
According to the blockchain data platform Arkham, on Tuesday, a cryptocurrency wallet tagged with Silk Road "awoke" and transferred approximately $3.14 million worth of Bitcoin.
These 176 transactions constitute the most significant activity for this wallet in nearly five years. Earlier this year, Silk Road-related wallets had only conducted three small test transactions.
All these transfers went to an unknown cryptocurrency wallet "bc1qn." The main Silk Road tagged wallet still holds about $38.4 million in Bitcoin, while the newly created address only holds the $3.14 million received from this transaction.
Cointelegraph was unable to independently verify the owner of the new wallet and has reached out to Ulbricht for comment.
In January of this year, Trump granted a full pardon to Silk Road founder Ross Ulbricht, who was previously serving two life sentences without the possibility of parole.
Ulbricht was convicted in 2015 for creating and operating Silk Road, a dark web market that facilitated anonymous transactions of illegal goods using Bitcoin.
Since the pardon, supporters have donated approximately $270,000 worth of Bitcoin to the Free Ross campaign, according to on-chain data.
Although the U.S. government has seized at least $3.36 billion worth of Bitcoin from Silk Road, some industry observers claim that Ross still holds several Bitcoin wallets that were not discovered during the asset seizure process.
Conor Grogan, a director at Coinbase, stated that a wallet potentially related to Ulbricht, which has been dormant for over 13 years, still contains 430 Bitcoins, valued at approximately $47 million.
Another Silk Road tagged wallet that may belong to Ulbricht holds $8.3 million in Bitcoin. According to Arkham, aside from the three small test transactions in the past 10 months, this wallet has been inactive for 14 years.
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Original article: “Bitcoin (BTC) wallet associated with Silk Road transfers $3 million to new address”
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