According to new reports, the accounts of Ross Ulbricht, the creator of the dark webs Silk Road may have seen some significant whale like movements. Though we can’t guarantee that the accounts in question belong to Ulbricht, many fingers are now pointing in that direction.
This comes as around 111,000 BTC and BCH has been transferred across 80 wallets. The moves are alleged to have been spotted by social media users after funds were seen to have left the prolific 1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a wallet address.
This address is most known as an address that is well associated with Dread Pirate Roberts, the alias for a silk road operator, therefore we are pretty sure that at the very least, this has something to do with some sort of prolific silk road figure. In July 2011, one of the first transactions to reach this address linked back to a confirmed address of Ross Ulbricht, according to Crypto Globe:
“The address first received funds on July 2, 2011. One of the very first transactions adding funds to it links back to another well-known address, that of alleged Silk Road operator Ross Ulbricht. The address had been leaked on the Bitcointalk forum, in a post where Ulbricht himself, under the nickname ‘altoid’ asked for help using the bitcoin API with PHP.”
“This could mean the address belongs to Ross Ulbricht himself, but transaction dates don’t add up. Ulbricht was arrested on October 2, 2013 for allegedly running the Dread Pirate Roberts account, administering the now-defunct Silk Road marketplace on the deep web.”
Now it seems that the movements recently spotted could have taken place via a Bitcoin tumbling service, a system designed to mix up transactions in order to hide the true outcome of transactions on the blockchain. It’s the sort of thing used within illicit transacting in order to mask transactions.
What will happen with these funds now?
Obviously, there’s know way of knowing if this is Ulbrichts fortune. As you may know, he’s still in prison so it’s unlikely that he’s made these moves himself, though, Ulbricht does have a very strong community following and a family that may have been trusted with access to his funds.
Either way, as according to Crypto Globe:
“None of the over 80 wallets in which 1933 has its funds seem to be sending money to known cryptocurrency exchange addresses. While this implies the funds aren’t being sold anytime soon, merging the funds into addresses with larger amounts shows the individual is either ready to do something with them or is moving to a more secure setup.”
It seems that these transactions have been made in an attempt to prepare for the future and as it stands, these funds aren’t going to hit any major exchanges anytime soon. Therefore this is a big whale movement, that isn’t set to impact the markets any time soon, or for the time being at least.