US DOJ moves Silk Road-linked Bitcoin (BTC) worth over $300M

US DOJ moves Silk Road-linked Bitcoin (BTC) worth over $300M
фото показано с : invezz.com

2023-7-12 19:58

Block explorer data indicates that two wallets (belonging to the Department of Justice and connected to the Silk Road cryptocurrency seizure) have moved Bitcoin worth approximately $301 million (9,825 BTCs) in three different transactions early today (12 July 2023).

The U.S. government has moved over $300M worth of Bitcoin linked to the Silk Road seizure. The move involved 9,825 Bitcoin in three separate transactions. This comes after the government sold 9,861 Bitcoin for $216M in March.#btc #cryptocurrency #SilkRoad #blockchain

— Crypto Insights (@ahmedzein12) July 12, 2023

The development caught market attention as Bitcoin prices dipped after similar events. The crypto market slumped in March after the same wallet moved Silk Road-connected Bitcoin worth $1 billion.

The government continues to sell the 50,000 BTC it seized after arresting James Zhong in November. Zhong allegedly manipulated transactions on the Silk Road darknet market in 2012. In March, the DoJ sold 9,861 BTC for $216 million.

Silk Road investigation

The latest transfer comes as lawmakers continue to investigate the Silk Road scandal. Meanwhile, the government planned to liquidate the seized assets to avoid possible disruptions within the crypto industry.

Let’s wait to see whether these transactions can yield new evidence or leads for the authorities.

Bitcoin price outlook

Cryptocurrency prices continue to print sideways movements. Meanwhile, Bitcoin plunged to press time levels of $30,480 following the transactions. That catalyzed bearish actions within the altcoin space, with the global crypto market capitalization reflecting a 0.17% 24hr dip to $.1.19 trillion.

The post US DOJ moves Silk Road-linked Bitcoin (BTC) worth over $300M appeared first on Invezz.

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Источник: invezz.com

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