US government sold another 8,200 bitcoins, on-chain data confirms

On-chain analysts at CryptoQuant have confirmed previous rumors that the United States government has sold another large batch of bitcoin (BTC) linked to the shuttered darknet marketplace, Silk Road.

• in a report shared with crypto potatoThe company said it sold 8,200 BTC to Silk Road hacker James Zhong on July 12.
• it was a bit low previous estimate, indicating that the government had transferred around 9,826 from its known wallets. This is also less than the government’s first confirmed sale of 9,861 BTC for $216 million in March.
• Most of the coins were transferred in a single transaction of 9,319 BTC, with 8200 BTC sent to one address and 1119 BTC to another.
• “The first address sent 8,200 bitcoins to different addresses, (and) each address received 79 bitcoins,” CryptoQuant wrote. “These coins were eventually deposited at exchanges or recombined into lesser wallets.”
• Although not confirmed, the second address containing 1119 BTC is believed to be controlled by the government. It added, “This address is highly likely to be a transaction change address.”
• The firm said that the government still has 195,307 BTC. These relate to recoveries from other criminal incidents including bitfinex hack,
  

On-chain analysts at CryptoQuant have confirmed previous rumors that the United States government has sold another large batch of bitcoin (BTC) linked to the shuttered darknet marketplace, Silk Road.

• in a report shared with crypto potatoThe company said it sold 8,200 BTC to Silk Road hacker James Zhong on July 12.
• it was a bit low previous estimate, indicating that the government had transferred around 9,826 from its known wallets. This is also less than the government’s first confirmed sale of 9,861 BTC for $216 million in March.
• Most of the coins were transferred in a single transaction of 9,319 BTC, with 8200 BTC sent to one address and 1119 BTC to another.
• “The first address sent 8,200 bitcoins to different addresses, (and) each address received 79 bitcoins,” CryptoQuant wrote. “These coins were eventually deposited at exchanges or recombined into lesser wallets.”
• Although not confirmed, the second address containing 1119 BTC is believed to be controlled by the government. It added, “This address is highly likely to be a transaction change address.”
• The firm said that the government still has 195,307 BTC. These relate to recoveries from other criminal incidents including bitfinex hack,