Long-dormant Bitcoin wallets awaken, moving $322M in BTC

A total of 3,421 BTC linked to Silk Road were transferred from dormant addresses into newly created wallets, raising questions about future movements.

US senators have urged the Treasury to ease crypto tax rules for large companies under the Inflation Reduction Act.

Two long-inactive Bitcoin wallets, originally linked to the infamous Silk Road marketplace, have come back to life after nearly 11 years of silence. On 5 May 2025, blockchain monitoring platforms flagged two large transactions totalling 3,421 BTC, worth more than $322 million at the time of transfer.

The first wallet moved 2,343 BTC at block height 895,421. These funds were split into 31 outputs, with most redirected to a new Pay-to-Witness-Public-Key-Hash (P2WPKH) address. The second wallet, also created in July 2013, transferred 1,078 BTC at block height 895,433.

The transaction followed a similar pattern, moving funds to an unfamiliar destination address. Sani, the creator of timechainindex.com, confirmed that the Bitcoins originated from Silk Road activity, having been withdrawn in 2012.

The nature of the transfers was large and silent. The funds were redirected to fresh wallets, prompting speculation about the intent behind the moves. It is particularly intriguing due to its historic origins and potential regulatory implications.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!