- 17th September 2018
- Posted by: emy
- Category: Media
Are you fond of a good mystery that needs to be solved? We’ve got one for you today from the world of cryptocurrency. On 16th September Reddit published the fact that a Bitcoin wallet valued at $720 million has just been ‘reawoken’. It has been asleep for four years, but during the last 10 days of August, the mysterious owner moved 111,114 BTC into Bitfinex and Binance.
Reddit highlighted the transaction through a series of posts that tracked each transaction in detail, alongside graphs that illustrated the activity. There are two prime suspects, although many seem to have already decided which one of the two it is.
One post from 31st August suggests that the funds may be connected to the defunct, dark web company Silk Road. It certainly handled billions of dollars worth of transactions, mostly paid for in BTC. The Reddit sleuther also noted that the last movements on the wallet happened in April 2014. And others have been busy on Reddit posting about how they connected the dots “from an address operated by DPR (Dread Pirate Roberts AKA Ross Ulbricht, creator of the Silk Road) to the one in the Reddit post over the course of six traced transactions,” says CCN.
But not everyone is convinced about the link to DPR, although it is a good story and perhaps the more enjoyable one, if you’re thinking along the lines of “which would make the better movie?” The other suggestion is that it is an old Mt. Gox wallet, an idea that has been supported by WizSec, a Bitcoin security specialist.
So, which one do you think it might be? The old Silk Road or Mt Gox?