Cryptocurrency wallets associated with the infamous Silk Road marketplace have become active once again, less than a year after Ross Ulbricht, the convicted creator of the darknet platform, received a full presidential pardon. The recent activity includes substantial Bitcoin transfers, signaling ongoing movements of funds connected to the historic underground marketplace.
Tickers mentioned: None
Sentiment: Neutral
Price impact: Neutral. The activity suggests potential movement of long-dormant assets but does not currently influence market prices significantly.
Market context: This resurgence occurs amid broader industry discussions about long-term holdings and the potential for unclaimed assets to re-enter circulation, impacting Bitcoin’s supply dynamics.
The recent transfers destination an address identified as bc1qn, with the original Silk Road-tied wallets still holding about $38.4 million in Bitcoin. The newly created wallet only contains these recent funds, with no indication of further activity yet. Arkham and other analysts remain cautious, as the owner of the wallet remains unidentified. Ulbricht’s supporters have yet to comment publicly, but blockchain data suggests lingering activity connected to his assets.
Significantly, the transactions come after Ulbricht’s full pardon by then-President Donald Trump in January. Ulbricht, sentenced to life without parole for his role in creating Silk Road, is seen by many as a controversial figure whose legacy continues to influence discussions about crypto and privacy. Supporters have since donated approximately $270,000 in Bitcoin to campaigns advocating for his release, adding a new chapter to his story.
Industry insiders note that despite the US government claiming to have seized over $3.36 billion in Bitcoin from Silk Road, some assets likely remain undiscovered. Notably, Coinbase director Conor Grogan revealed that around 430 BTC—worth roughly $47 million—are dormant in wallets believed to be linked to Ulbricht, inactive for over 13 years. Additionally, another wallet holding approximately $8.3 million has shown minimal activity over the past decade, fueling ongoing speculation about hidden assets.
Silk Road wallets, token holdings. Source: ArkhamThis article was originally published as Silk Road Wallets Resurrected: Transfer $3M in Bitcoin to New Address on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.


