$324 million worth of bitcoins ceased by the US authorities have been distributed

Bitcoin glowing yellow

Bitcoins that were ceased from the darknet marketplace, Silk Road, were moved from their wallets. This was revealed by PeckShieldAlert in a Twitter post on Thursday. The post said that ceased bitcoins valued at approximately $324 million were distributed among 98 addresses. The 9,800 bitcoins were sent to the wallets, each of which received 79.2 bitcoins.

$4.86 Moved to Binance

The on-chain tracking platform also announced that two of the addresses have moved some of their coins worth $4.86 million to the crypto exchange Binance. The post stated,

#PeckShieldAlert ~9.8k $BTC (~$32.4M) from wallets associated with US Government law enforcement seizures were moved ~7.76k BTC has been distributed among 98 addresses, with each address receiving 79.2 $BTC, 2 of them have transferred ~158.4 BTC (~$4.86M) to #Binance ~279.9 BTC has been sent to the address 1FUpBd…YUX and another 1.6k $BTC has been transferred to 2 new addresses. #SilkRoad

Auctions by the US Marshall Service

Bitcoins ceased from Silk Road darknet marketplace have been intermittently auctioned by the US authorities. This is the first time that it has been reported that some of the coins were moved to an exchange. It is not yet certain why the funds were distributed to 98 addresses. Some on-chain analysts wondered if the coins are actually held by the US authorities, which recently filed a lawsuit against the cryptocurrency exchange, Binance.

Author: Miriam