Cryptocurrency transactions might be anonymous but every exchange made is public and if you are a keen user like @sick_silk, no suspicious activity can get away unnoticed. Recently, a wallet holding a huge sum of crypto currency got active out of blue. It transferred 111,114 Bitcoins from a dormat wallet to three different exchanges which caused the stir among the Bitcoin enthusiasts. Bitcoin price has shown some stable trend in the crypto market in last ten days, and have been hovering over $7,000. This could be another reason the wallet owner wanted to dump his coins or his wallet could be linked to black market a.k.a Silk Road.
The Silk Road
The Silk Road marketplace was created by Ross Ulbricht, tracked down in 2013 and then trialed in US court. Ross was sentenced to double life sentence plus forty years without the possibility of parole. This was the world’s first online marketplace to sell illegal substances and weapons. It was home for nefarious activities, prostitution etc and Bitcoin was its native currency.
Mysterious wallet got active out of blue
On 31 Aug, the Bitcoin wallet in question, started to divide its holdings into chunks of 100 coins by sub wallets. The original wallet contained 111,114 Bitcoins and Bitcoin Cash. This could be worth of $845 by today. The last sub wallet transaction was made on March 9, 2014. It made some movements in 2017 and 2018 but the movement wasn’t big. The last week of August, 2018, the wallet was divided into chunks of 60,000 at first, then 30,000, 20,000, 10,000, 500 and now in 100 coins. The wallet showered its Bitcoins to the three exchanges – 111,114 BTC to Bitfinex, 4,421 BTC to Binance, and 350 BTC to BitMEX.
In October 2017, US Justice Dept claimed that they sold all the Bitcoins which have been seized after th online illegal market aka Silk Road was shut down. According to the Redidit post, the wallet seems to be linked to one DPR of Silk Road. However, this wallet doesn’t seem to be the seized wallets.