Another gargantuan transaction has just been reported by the cryptocurrency transactions tracking Twitter bot Whale Alert. According to the report, an unknown user has transferred nearly $1 billion worth of Bitcoin (BTC) to an unknown wallet address. However, Elliptic the blockchain analytics company has tracked down this massive BTC transaction and found out that this address is linked with Silk Road, a darknet marketplace.
A total of 69,370 Bitcoin was moved
This transfer has also been reported by the cryptocurrency intelligence company CipherTrace. According to its report, a total of 69,370 Bitcoin (BTC) was transferred by an anonymous wallet address to an unknown address. At the time of writing, this huge amount of BTC is worth approximately $947 million at the price value of BTC at around $13,650.
Reportedly, the amount was moved into two separate transactions. In the first transaction, only one BTC was sent by the cryptocurrency user in order to test the transaction. All of the remaining Bitcoins were transferred in the second transaction.
Also read:This transaction was made from the wallet address 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx which is reportedly the fourth-largest Bitcoin (BTC) wallet address. This is the first time since the year 2015 that a transfer has been made from this wallet. As tracked down by Elliptic, this gargantuan transfer was made from a wallet that is associated with the darknet marketplace Silk Road. This market place closed down back in 2013.
A Popular wallet address
Being the fourth-largest Bitcoin wallet address, it seems to be the popular wallet as it has been on the target list of hackers and cybercriminals who have been trying to hack it. Last month, the Cybercrime Intelligence company Hudson Rock’s Chief Technology Officer (CTO) Alon Gal said that hackers have been making attempts for the past two years to crack the encryption password of this wallet address.
There is likely a chance that the owner of this wallet may have moved this amount to a new address in order to avoid any hacking activity. There is also a possibility that the hacker may already have hacked this address. And, therefore, it might be the hacker who has made this transfer.
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