- CryptoQuant’s Ki Younger Ju believes that the US authorities is maintaining with current Silk Street BTC transfers.
- A crypto analyst cited chain information to point out that authorities wallets weren’t concerned within the transfers.
- Ju believes that transaction patterns belong to cryptocurrency change wallets, not the US authorities.
Ki Younger Ju, founder and CEO of on-chain analytics agency CryptoQuant, believes that current experiences of the US authorities handing over bitcoins seized from the Silk Street is probably not correct. The crypto analyst cited chain information to help his argument and idea.
Younger Ju took to Twitter earlier right now to reply to information of the US authorities shifting bitcoins seized from the defunct on-line black market Silk Street. Based on them, the pockets addresses related to the transactions don’t belong to the US authorities. He added that the addresses didn’t match any of the addresses the federal government had supplied in earlier trials.
CryptoQuant’s founder quoted an earlier tweet from blockchain analytics agency Arkham Intelligence. in 2023 in Might, Arkham revealed the addresses of wallets utilized by the US authorities to retailer BTC seized from the Silk Street hacker. Based on Younger Ju, not one of the wallets matched those transferred within the final switch.
Ki Younger Ju added that the transaction sample of the final switch was much like cryptocurrency change wallets, somewhat than one managed by the federal government. Ju acknowledged that the wallets appeared like an change deposit pockets and an change sizzling pockets.
Julio Moreno, head of analysis at CryptoQuant, shared his thesis that the 1,500 BTC believed to have been transferred by the US authorities was despatched to a modified handle. Moreno believes that the switch didn’t have an effect on the worth of BTC, as the federal government nonetheless has greater than 204,000 BTC in its wallets.
