More than 9,000 Bitcoin seized in connection with Silk Road on the move

Onchain information shows 9,825 Bitcoin (BTC), worthy $302 million, seized by the U.S. Department of Justice (DOJ) successful transportation to shuttered darknet marketplace, Silk Road, were moved to caller addresses earlier today, July 12.

The OKLink dashboard shows that the BTC was sent to caller addresses successful 2 transactions, with 1 inactive pending arsenic of property time.

Earlier this year, the U.S. authorities sold 9,800 BTC for $215.7 cardinal via Coinbase crypto exchange. At the time, the authorities revealed plans to merchantability to liquidate the implicit 40,000 Bitcoin equilibrium successful 4 batches during this calendar year.

The Silk Road Bitcoin refers to the much than 50,000 BTC the U.S. authorities seized from James Zhong successful 2022. Zhong hacked the acheronian web marketplace successful 2012 to bargain funds, and it took astir a decennary earlier the authorities could retrieve the stolen funds.

BTC terms unchanged

BTC’s terms remains unchanged contempt speculations generated by the U.S. BTC movement. The flagship integer plus was trading for $30,713, gaining 0.18% successful the past 24 hours.

Over the past month, BTC’s terms has mostly traded supra $30,000 arsenic bullish sentiments returned to the marketplace aft respective starring accepted fiscal institutions, including BlackRock and Fidelity, applied for a spot BTC ETF successful June.

During this period, respective marketplace observers, including Gemini’s co-founder Cameron Winklevoss stated that BTC’s important accumulation had begun.

Data from ByteTree, arsenic shared by crypto expert Miles Deutscher, further showed that the magnitude of Bitcoin held by funds rapidly grew to astir 850,000 BTC successful June.

The station More than 9,000 Bitcoin seized successful transportation with Silk Road connected the move appeared archetypal connected CryptoSlate.