Less than a 12 months after US President Donald Trump granted a full pardon to its imprisoned founder Ross Ulbricht, cryptocurrency wallets linked to darknet marketplace Silk Road are on the move again.
According to blockchain data platform Arkham, Silk Road-tagged cryptocurrency wallets woke as much as the transfer of around $3.14 million value of Bitcoin (BTC) on Tuesday.
The 176 transfers mark the wallet's most important activity in five years. Silk Road-related wallets only conducted three small test transactions earlier this 12 months.
The transfers were all made to an unknown cryptocurrency wallet, bc1qn. The primary wallets with the Silk Road tag still contain about $38.4 million in Bitcoin, while the newly created address only comprises the $3.14 million received in recent transactions.
Cointelegraph was unable to independently confirm the owner of the brand new wallet and has reached out to Ulbricht for comment.
Silk Road wallets, token holdings. Source: Arkham
In January, Trump pardoned Silk Road founder Ross Ulbricht, who was serving a double life sentence without parole.
Ulbricht was convicted in 2015 for his role in founding and operating Silk Road, a darknet marketplace that enabled the anonymous trading of illegal goods using Bitcoin.
Following the pardon, supporters donated around $270,000 in Bitcoin donations to the Free Ross campaign, in keeping with on-chain data.
Silk Road founder should have tens of millions in unconfiscated crypto wallets
While the US government seized no less than $3.36 billion value of Bitcoin from Silk Road, some industry observers claim that Ross had multiple Bitcoin wallets that weren’t discovered within the asset seizure.
Coinbase exchange director Conor Grogan revealed that 430 BTC, value about $47 million, lie untouched in wallets likely linked to Ulbricht and have been dormant for over 13 years.
Another wallet tagged “Silk Road” likely belongs to Ulbricht and comprises $8.3 million value of Bitcoin. According to Arkham, the wallet has been inactive for 14 years, apart from three small test transactions within the last 10 months.
