A wallet suspected to belong to early dark net market Silk Road moved about $1 billion worth of bitcoin early on Wednesday, reports CoinDesk. About 69,369 BTC were transferred by Bitcoin address “1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx” to an unknown wallet.

  • The bitcoins are likely to have been moved by imprisoned Silk Road operator Ross Ulbricht or a Silk Road vendor. 
  • The transaction is the first to be made from the address since 2015 when it moved 101 BTC to BTC-e, a now-outlawed cryptocurrency exchange used by money launderers. 
  • Ulbricht, operating under the pseudonym, Dread Pirate Roberts, operated Silk Road from 2011 until his arrest in 2013 and is currently serving a life sentence, which raises doubts he executed the transaction. 
  • There are suspicions of password hacking, and the hacker moved the stash, or the owner moved them to prevent possible hacking.
  • 174,000 BTC were recovered from Ulbricht by the FBI on arrest and  the suspect may have used the remaining 440,000BTC worth $6 billion to run the marketplace.

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