A group of wallets associated with the defunct Silk Road marketplace, allegedly linked to its creator Ross Ulbricht, became active for the first time in over five years, transferring millions in Bitcoin. According to blockchain intelligence firm Arkham Intelligence, these wallets, which once held up to 442,000 BTC in 2012, now contain approximately 416 BTC valued at $38.25 million. On Tuesday, these wallets sent 33.7 BTC, worth around $3 million, to a new address. Analyst Conor Grogan previously identified one wallet, ending in 'WoPx1', containing about 90 BTC valued at nearly $9 million, which has been inactive for 14 years. Grogan noted that he found around 430 BTC across various wallets linked to Ulbricht, which, despite being considered negligible years ago, have appreciated significantly due to Bitcoin's value increase. While the reasons for the recent transactions remain unclear, experts warn that these funds could still be subject to seizure by the government.
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A group of wallets associated with the defunct Silk Road marketplace, allegedly linked to its creator Ross Ulbricht, became active for the first time in over five years, transferring millions in Bitcoin. According to blockchain intelligence firm Arkham Intelligence, these wallets, which once held up to 442,000 BTC in 2012, now contain approximately 416 BTC valued at $38.25 million. On Tuesday, these wallets sent 33.7 BTC, worth around $3 million, to a new address. Analyst Conor Grogan previously identified one wallet, ending in 'WoPx1', containing about 90 BTC valued at nearly $9 million, which has been inactive for 14 years. Grogan noted that he found around 430 BTC across various wallets linked to Ulbricht, which, despite being considered negligible years ago, have appreciated significantly due to Bitcoin's value increase. While the reasons for the recent transactions remain unclear, experts warn that these funds could still be subject to seizure by the government.