A whole lot of bitcoin wallets related to the now-defunct Silk Highway darknet market turned lively on Tuesday for the primary time in over a decade, transferring $3.14 million price of bitcoin to an unidentified tackle.
Silk Highway wallets instantly awaken
Arkham Intelligence knowledge revealed that roughly 312 wallets linked to Silk Highway collectively moved the funds into the tackle starting with “bc1q…ga54.”
The rationale for this coordinated exercise stays unknown.
As of at present, these wallets nonetheless include about $41.3 million in bitcoin, in keeping with Arkham’s estimates.
Earlier findings and ongoing monitoring
In January, Coinbase Director Conor Grogan famous he had recognized roughly $47 million in bitcoin in wallets tied to Silk Highway founder Ross Ulbricht.
On Tuesday, Grogan resurfaced his earlier evaluation in response to the most recent flagged actions, which had been dropped at broader consideration by Plasma Basis’s pseudonymous operator “0xG00gly.”
Ulbricht’s pardon and Silk Highway’s legacy
Earlier in 2025, U.S. President Donald Trump signed an government order granting a full and unconditional pardon to Ulbricht, who had been serving a number of life sentences with out parole for creating Silk Highway.
Whereas Silk Highway facilitated the commerce of unlawful items, it performed a pivotal position within the early adoption of bitcoin as a cost methodology.
In Might, Ulbricht gave his first public speech since his launch, highlighting themes of freedom, decentralization, and unity as basic to technological progress.
He emphasised the potential for know-how to “liberate and empower individuals all over the world.”