On-Chain Facts Reveals US Government’s Ideas to Offer 30,000 Silk Road Bitcoin

Enjoyable news now! The US authorities just made a transaction that hints at the chance of liquidating some of the remaining Bitcoin it confiscated from Silk Highway, the infamous on-line marketplace.

The latest on-chain information reveals that a modest take a look at transaction of .001 BTC, element of a more substantial stash of all around 30,174 BTC valued at $2 billion, has been moved by the US government.

                    <a rel="nofollow noopener" target="_blank" href="https://mempool.space/tx/9c3af4b48e66565f1da1da8278036fa1dbb09f2beaaca99c3504475390ba4590"><img src="https://bitcoinmagazine.com/.image/c_fit%2Ch_800%2Cw_1200/MjA1NDU4MzUzNDkxNTUyMjEy/screenshot-2024-04-02-at-115318am.png" height="800" width="1086"></a>

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                <p>Guess where by this transaction ended up? It landed in the palms of Coinbase, just one of the prime cryptocurrency exchanges in the US. <a rel="nofollow noopener" target="_blank" href="https://platform.arkhamintelligence.com/explorer/entity/usg">Arkham Intelligence</a> was speedy to trace the BTC again to Silk Road and discovered Coinbase as the receiver. Appears like these coins may be up for sale shortly, just like in the past.</p><figure>

                    <img src="https://bitcoinmagazine.com/.image/c_fit%2Ch_800%2Cw_1200/MjA1NDU4NDA2MzczMzM2NTc0/screenshot-2024-04-02-at-115642am.png" height="396" width="1200">

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                <p>Recall previous March? The US federal government offered off 10,000 bitcoins joined to Silk Highway, raking in around 9,861 BTC really worth $216 million, as claimed in a <a rel="nofollow noopener" target="_blank" href="https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/ruTcRuwOsFsE/v0">court filing</a>.

This time about, we noticed 3 on-chain transactions preceding the sale, just like past time when the sale was disclosed in a court filing weeks just after the transactions.

The US Marshals Assistance has been fairly the Bitcoin vendor, transferring 195,000 BTC in accordance to Jameson Lopp. In spite of calls from US lawmakers to maintain onto these funds, the company carries on to adhere to its obligation of advertising off confiscated property from prison investigations.


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