{"id":75234,"date":"2023-03-08T19:28:30","date_gmt":"2023-03-08T17:28:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75234"},"modified":"2025-09-10T10:28:49","modified_gmt":"2025-09-10T07:28:49","slug":"us-confiscated-silk-road-bitcoins-move-to-new-wallets-worth-1-billion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-confiscated-silk-road-bitcoins-move-to-new-wallets-worth-1-billion\/","title":{"rendered":"US-confiscated Silk Road bitcoins move to new wallets worth $1 billion"},"content":{"rendered":"<p>Analytical company PeckShield tracked the movement of 48,998 BTC (about $1.08 billion at the time of writing), confiscated by the US government from the darknet marketplace Silk Road.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/PeckShieldAlert?src=hash&#038;ref_src=twsrc%5Etfw\">#PeckShieldAlert<\/a> 49k <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> (worth $1 Billion) from wallets related to US Government law enforcement seizures have been transferred to <a href=\"https:\/\/twitter.com\/hashtag\/Coinbase?src=hash&#038;ref_src=twsrc%5Etfw\">#Coinbase<\/a> (~9.8k <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>, worth $217M), bc1qf2\u2026fsv (30k <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>) &#038; bc1qe7\u2026rdg (9k <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>) <a href=\"https:\/\/twitter.com\/hashtag\/SilkRoad?src=hash&#038;ref_src=twsrc%5Etfw\">#SilkRoad<\/a> <a href=\"https:\/\/t.co\/4MzlvDzkut\">pic.twitter.com\/4MzlvDzkut<\/a><\/p>\n<p>\u2014 PeckShieldAlert (@PeckShieldAlert) <a href=\"https:\/\/twitter.com\/PeckShieldAlert\/status\/1633331891347820544?ref_src=twsrc%5Etfw\">March 8, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>30,174 BTC and 8,999 BTC flowed to two new wallets, while another 9,825 BTC were sent to the American cryptocurrency exchange <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-coinbase\">Coinbase<\/a>.<\/p>\n<p>At two addresses, US law enforcement held 51,352 BTC seized from Silk Road in November 2021 and March 2022.<\/p>\n<p>In 2015 a court found Silk Road founder Ross Ulbricht guilty of operating the darknet marketplace and other crimes, including drug trafficking and a conspiracy to launder funds. He was sentenced to life imprisonment.<\/p>\n<p>In 2019 venture capitalist Tim Draper called for Ulbricht&#8217;s release. In March 2020 a petition with a similar demand gathered 275,000 signatures.<\/p>\n<p>Subsequently, billionaire Elon Musk <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-says-silk-road-founder-ross-ulbrichts-sentence-is-excessive\">called it overreach<\/a> of the Silk Road founder&#8217;s sentence. &#8220;There were certainly grounds for punishment, but the sentence seems excessive,&#8221; he said.<\/p>\n<p>In November 2021, the founder of Silk Road announced that <a href=\"https:\/\/u1f987.com\/en\/news\/silk-road-founder-ross-ulbricht-to-release-nft-collection\">would auction off his NFT collection<\/a>. It was purchased by the decentralized autonomous organization FreeRossDAO <a href=\"https:\/\/u1f987.com\/en\/news\/freerossdao-buys-silk-road-founder-ross-ulbrichts-nft-collection\">for 1,446 ETH<\/a> (~$6.2 million at the time).<\/p>\n<p>In November 2022 Bitcoin Magazine opened in Nashville, Tennessee, USA <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-magazine-opens-exhibition-in-honour-of-silk-road-founder\">an exhibition space<\/a> dedicated to Ulbricht.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analytical company PeckShield tracked the movement of 48,998 BTC ($1.08 billion), confiscated by the US government from the Silk Road darknet marketplace.<\/p>\n","protected":false},"author":1,"featured_media":75235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[236],"class_list":["post-75234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-silk-road"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75234"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75234\/revisions"}],"predecessor-version":[{"id":75236,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75234\/revisions\/75236"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75235"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}