Dormant Silk Road Bitcoin Wallets Transfer $3.14 Million After 10 Years

Highlights:

• Hundreds of old Silk Road wallets reactivated this week, transferring $3.14 million.
• The dormant wallets moved all funds to one unknown Bitcoin address beginning “bc1q.”
• The sudden activity surprised analysts and renewed attention on historic Silk Road wallets.

Hundreds of Bitcoin wallets linked to the old Silk Road dark web marketplace became active this week. They moved a total of $3.14 million. Arkham Intelligence data shows 312 wallets sent their Bitcoin to a single address starting with “bc1q,” but the owner is unknown.

🚨176 transfers have been made from the Silk Road crypto wallet in the last 4 hourshttps://t.co/cNmxKfVR71 pic.twitter.com/aZiihZAiri

— Dark Web Informer (@DarkWebInformer) December 10, 2025

Silk Road Legacy Resurfaces After Years of Inactive Bitcoin Wallets

The Silk Road was famous for illegal online trades. The FBI shut it down in 2013. Its founder, Ross Ulbricht, was later pardoned by Donald Trump. Even after more than ten years, money tied to the marketplace still gets attention from crypto analysts. Arkham Intelligence said these wallets had been inactive for over ten years. The sudden activity caught the crypto community’s attention. It shows that old Bitcoin holdings can still be important in today’s market.

The remaining Silk Road-linked wallets still hold about $41.3 million in Bitcoin. In January, crypto researcher and Coinbase Director Conor Grogan estimated that around $47 million was stored in wallets tied to the platform and its founder.

Grogan noted the recent movement in a post on X (formerly Twitter). He referenced an alert shared by the pseudonymous Plasma Foundation operator 0xG00gly. These updates help market watchers track trends and understand how early Bitcoin holders store their funds long-term. Large transfers like this often raise questions about who controls the funds. Speculation includes former Silk Road associates, law enforcement, or private individuals. There is, at this time, no indication of illicit activity, and there have been no other transfers.

https://t.co/gZl1YVtXsB

— Conor (@jconorgrogan) December 9, 2025

Historic Wallet Transfers Influence Trader Sentiment and Market Psychology

Large transactions for historically significant accounts can have the tendency to influence the trading sentiment, regardless of whether the Bitcoins will be sold immediately. Such transactions also bring memories of the Nakomies’ early Bitcoin era, thus the transparency of the blockchain records.

Analysts say dormant addresses still matter. Public ledger systems let anyone track wallet movements, so these old wallets remain visible to the global community. Traders watch these events for possible market changes or volatility. The recent $3.14 million transfer shows that even old Bitcoin can still influence discussions in today’s more regulated crypto markets.

The mystery of the destination wallet continues, and analysts are watching for any new activity. Even small signs could show if the Bitcoin is being consolidated, sold, or managed in another way. The short-term effect on prices is unclear, but large transfers like this get attention from both institutional and retail investors.

Similarly, SpaceX recently moved 1,021 BTC ($94.5M), part of a likely wallet reorganization. This is their second move this month and ninth this year, totaling 8,910 BTC ($924M) via Coinbase Prime. Such transfers show that even big holdings stay linked to today’s financial system. Some funds moved from old “1” addresses to new “bc1q” ones, while others consolidated between new addresses.

SpaceX(@SpaceX) just transferred out another 1,021 $BTC($94.48M), to possibly Coinbase Prime for custody.https://t.co/zW62EKM2RD pic.twitter.com/PwBIvD5RaR

— Lookonchain (@lookonchain) December 10, 2025