Silk Road-Linked Bitcoin Wallets Transfer $3 Million After Years of Dormancy

Cryptocurrency wallets associated with the shuttered Silk Road darknet marketplace transferred approximately .14 million worth of Bitcoin to an unknown address on Tuesday, according to blockchain analytics platform Arkham ^[1].

The activity represents the wallets' most substantial movement in five years, comprising 176 separate transactions. The transfers come less than a year after Silk Road founder Ross Ulbricht received a full pardon from Donald Trump.

All funds were sent to a previously unknown wallet address, while the primary Silk Road-tagged wallets still retain approximately 8.4 million in Bitcoin ^[1]. Earlier this year, these wallets conducted only three small test transactions.

The ownership of the newly created receiving address could not be independently verified. Ulbricht has not publicly commented on the transfers.

Despite the U.S. government seizing at least .36 billion in Bitcoin from Silk Road operations, cryptocurrency industry observers believe additional wallets connected to Ulbricht remain undiscovered. Coinbase director Conor Grogan previously identified 430 BTC—currently valued at approximately 7 million—sitting untouched in wallets dormant for over 13 years that are likely linked to the marketplace founder ^[1].