Elliptic blockchain tracker has just claimed that around $1 billion worth of Bitcoins is on the move. It is believed that these Bitcoins are likely originated from Silk Road. According to reports, around 69,369 Bitcoins were moved out of the wallet that is most likely associated with Silk Road. Earlier also several Bitcoins associated with this site were used in the government auctions. Elliptic Reveals Law Enforcement is Unclear About $1 billion of Bitcoins Tom Robinson, the co-founder of Elliptic, has said that law enforcement is still not clear about this move. They are finding out whether $1 billion of Bitcoins were moved by the Silk Road’s owner or not. BitInfoCharts claims that the account from which the funds are moved comes under the top four richest Bitcoin addresses. Robinson seems to be quite confident that these funds belong to Silk Road only. This is because he said, “I’d say I’m about 60% confident that these funds are from the Silk Road at the moment — I’m not certain about it.” Not only Elliptic, but another crypto intelligence firm named CipherTrace has also claimed that the recent movement of Bitcoin originated from a Silk Road associated address. Silk Road was Associated With Illicit Activities Silk Road was a darknet website that was highly associated with illicit activities. It allowed users to sell illicit goods and illegal drugs. The firm originated in 2011 and was operated by Ross William Ulbricht however, it was later shut down due to its association with illicit activities. Elliptic’s Robinson also revealed that the copy of an encrypted wallet file is being circulated widely. It is believed that the owner must have moved funds to prevent theft or hack. This is because it will be very easy for someone to crack the password as the file is being circulated all over.
The post Elliptic Claims Around $1B Worth Bitcoins Are on the Move appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
