R$ 5 billion in Bitcoin moved from Deep Web portfolio

Silk Road is one of the most infamous black markets in the history of the internet, but it has been deactivated for some time. A portfolio that supposedly belongs to the black market and was stopped since 2015 has just moved 69,369 Bitcoins, just over R$ 5.4 billion in the current currency rate.

Silk Road has a very interesting and even important history for the cryptomarket, being one of the first black markets that had Bitcoin as their main currency. Ross Ulbricht, creator of the black market and known as Dread Pirate Roberts, was arrested in 2013 and since then the platform has been blocked by the FBI.

Now, almost a decade after Ross‘ arrest, an address (1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx) that can be linked to the black market and even possibly Ulbricht has moved a billion dollar amount of Bitcoins. The move was initially noticed by the Twitter Whale Alert account, which monitors large movements in the Bitcoin network.

This was the first transaction from that address since 2015, when he transferred 101 BTC to BTC-e, a brokerage house already closed, but which used to be famous for being used for money laundering.

Ross is currently in jail, so it is very difficult that she was responsible for making the transfer. However, this address is linked to other famous stories in the cryptomarket.

Bitcoin’s address circulated on hackers forums

Recently we showed here at Livecoins the story of a Bitcoin address that contained a large amount of Bitcoins that had not been moved since 2015. A curious fact is that this address was circulating on forums as an inactive address for many hackers to try to break the encryption of the wallet. The address in question was 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx, yes, exactly the same address that moved the 69 thousand Bitcoins this week.

With this, some are speculating that maybe some of the many hackers who had access to the encrypted file with the address keys were able to break the code and empty the wallet.

However, most likely the owner of the wallet (who certainly wants to keep it a secret) must have noticed the increased interest in the address and origin of these Bitcoins and decided to move them to another wallet, perhaps one that is more secure and less targeted by different hackers.

Anyway, the amount of BTC is quite large, but there is no reason to believe that it will be dumped in the market at any time.