DoJ moves Silk Road bitcoin to new wallets and exchanges

Blockchain analysis conducted by Protos shows that bitcoin related to the Silk Road seizure are moving, and some may have been sent to Coinbase.

Bitcoin stored in a US Department of Justice wallet that were seized from darknet marketplace Silk Road have been moved to new addresses. A total of 49,000 bitcoin were moved, including a transfer of over 9,800 bitcoin to an address beginning in 367Yo. That wallet also received an additional 35 bitcoin from an address beginning in bc1q.

Approximately 476 bitcoin were further transferred by 36Yo to an address which appears to regularly receive bitcoin from Coinbase addresses, based on blockchain analysis conducted by Protos. Cyptocurrency research firm Glassnode also linked 36Yo to Coinbase.

Approximately 40k $BTC from wallets associated with US Government law enforcement seizures are on the move.

Of these, the majority appear to be internal transfers (so far), however approximately 9,861 $BTC seized from the Silk Road hacker have been sent to our Coinbase cluster. pic.twitter.com/afuEYcV18L

— glassnode (@glassnode) March 7, 2023

Read more: 50,000 bitcoin seized after criminal calls police on self

An additional 31 bitcoin were transferred to an address that has also appeared in Financial Times analysis of FTX US transfers, and is marked as a Binance Wallet on Breadcrumbs.

Several other small transfers were made to addresses connected to Binance, according to Breadcrumbs:

• A sum of 0.004 bitcoin was transferred to 1J8BzYDmVeSvGZBU1a9Pi4rcNN5td64g5X.
• An address beginnining in 1GvJ received 0.0008 bitcoin.
• Additionally, 0.0003 bitcoin were transferred to an address starting in 1PbH.

An address connected to Luno.com received about 0.04 bitcoin from 367Yo, along with 0.02 bitcoin deposited to a wallet linked to KuCoin. A small sum of 0.0005 was sent to an address connected to Rollbits.com.

The remainder of the bitcoin were transferred out of 367Yo, largely in around 93 bitcoin blocks to dozens of new addresses. It’s not clear why the majority of funds were distributed to new addresses with equivalent amounts, but small sums were transferred to these other addresses.

The US Southern District of New York declined to give any comment related to these asset movements.

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