Silk Road-linked Bitcoin wallets move $3M to new address

Category : Market News | Sub Category : Market News Posted on 2025-12-23 08:46:39

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Silk Road–linked cryptocurrency wallets have sprung back to life, moving funds for the first time since US President Donald Trump issued a full pardon to the marketplace’s founder, Ross Ulbricht, earlier this year.

Data from blockchain analytics firm Arkham shows that on Tuesday, wallets associated with Silk Road transferred roughly $3.14 million in Bitcoin (BTC). The 176 transactions represent the most significant activity from these addresses in five years; prior to this, they had only carried out three small test transfers earlier in 2024.

All of the recent transactions were sent to a new, unidentified wallet beginning with the prefix bc1qn. The main Silk Road–tagged wallets still hold approximately $38.4 million in BTC, while the newly created address contains only the $3.14 million moved this week.

The owner of the new wallet remains unknown, and Cointelegraph reports that it has reached out to Ulbricht for comment.

Ulbricht, who was convicted in 2015 for creating and operating the Silk Road darknet marketplace, had been serving a double life sentence without parole before receiving a full presidential pardon in January. Since then, supporters have donated around $270,000 in Bitcoin to the Free Ross campaign, according to on-chain data.

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