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Bitcoin Whale Moves Millions of BTC via Dark Web Silk Road

Bitcoin Whale Moves Millions of BTC via Dark Web Silk Road

One Bitcoin whale moved a million-dollar worth of BTC from the dark web silk road in the last 24 hours.

In a report made by CipherTrace, a huge amount of Bitcoin — 69,370 BTC — from the darknet silkroad has just moved. The whale transferred the said amount of BTC in two separate transactions.

Interestingly, the initial transaction made by the holder consisted of only 1BTC. After successfully transferring the single coin, the remaining BTC balance of 69,369 moved to the same address. This separate activity of transferring funds is most likely to test and prevent errors in the transaction.

The crypto holder used these BTC addresses in transferring the assets:

1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx
bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6

Furthermore, these two addresses have different formats between Legacy/P2PKH address and Bech32/P2WPKH address. Hence, the transfer of the coin might be a way for the crypto holder to upgrade his or her BTC wallet address or security.

On the other hand, there is also speculation about the crypto wallet’s hacking since it is from the dark web. The FBI shut down the dark net silk road last 2013.

CipherTrace clarified these circulating rumors, saying:

These movements could possibly mean that the wallet owner is moving funds to new addresses to prevent hackers from accessing the wallet.dat file or that hackers have already cracked the file.

Bitcoin is a cryptocurrency that is relatively stable and profitable. This is one reason why many use it in most activities everywhere, including the dark web.

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.