Catenaa, Tuesday, December 16, 2025- Hundreds of cryptocurrency wallets linked to the defunct Silk Road marketplace became active last Tuesday, transferring roughly $3.14 million in bitcoin to a single unidentified address, according to blockchain analytics firm Arkham Intelligence.
Data shows that 312 wallets tied to Silk Road moved the funds to an address starting with “bc1q…ga54.” The wallets still collectively hold about $41.3 million in bitcoin.
The reason behind the activity remains unclear, and investigators have not confirmed the destination or purpose of the transfers.
In January, Coinbase Director Conor Grogan identified around $47 million in bitcoin connected to Ross Ulbricht, the creator of Silk Road.
On Tuesday, Grogan noted the recent movements on social media in response to a query from a pseudonymous blockchain operator.
Ulbricht received a full presidential pardon earlier this year from Donald Trump after serving multiple life sentences without parole.
Silk Road was notorious for enabling narcotics and illicit goods sales, but it also played a significant role in the early adoption of bitcoin as a transaction medium.
Following the pardon, Ulbricht gave his first public address in May, highlighting freedom, decentralization, and global empowerment as principles for future technological development.
No official comment has been made regarding the sudden activation of the long-dormant wallets.
