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BTC Valued at $144M Sent to Coin Mixer From Defunct Darknet Market After Eight-Year Wait
The coins are linked to Abraxas marketplace, a darknet market that shut in 2015.
An entity has moved 4,800 BTC ($144M) to a coin mixer from a wallet tied to defunct darknet marketplace Abraxas, which closed in 2015, according to blockchain analyst ZachXBT.
Abraxas shut suddenly eight years ago, locking user funds on the website in what was described as an "exit scam."
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An entity moved ~4800 BTC ($144M) originating from Abraxas darknet market which exit scammed in Nov 2015 after previously sitting dormant.
— ZachXBT (@zachxbt) October 23, 2023
They consolidated funds and also deposited to a bitcoin mixer.
This graph shows an example of the movements from one of the addresses. pic.twitter.com/zVBSs6mrc4
The funds were left untouched until this week, when the wallet owner consolidated them before transferring the full amount to a bitcoin mixer.
A mixer is a tool that jumbles up bitcoin transactions across a period of time by splitting the coins across various wallets. The U.S. treasury was looking to label coin mixers last week as a "primary money laundering concern."
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
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