On-chain analysts at CryptoQuant have confirmed earlier rumors that the US government has sold another large batch of Bitcoin (BTC) connected to the defunct darknet market, Silk Road.
- In a joint report with Potato encryptionOn July 12, the company said, the company sold 8,200 BTC from Silk Road hacker James Zhong.
- This was a little lower previous estimatesHe pointed out that the government transferred about 9,826 of its known wallets. It is also lower than the government’s first confirmed sale of 9,861 BTC for $216 million in March.
- Most coins were moved in a single transaction of 9,319 BTC, which sent 8,200 BTC to one address, and 1,119 BTC to another.
- CryptoQuant wrote the previous address “redirected 8,200 bitcoins to various addresses, (and) each address received 79 bitcoins.” “These coins were eventually deposited on exchanges or repackaged into fewer wallets.”
- Although not confirmed, the other address with 1,119 BTC is believed to be under government control. “This address is probably the change address of the deal,” she said.
- The company said that the government still holds 195,307 BTC. These relate to seizures from other criminal incidents, incl Bitfinex hack.
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