The crypto community gets shaken up when a big Bitcoin transaction happens, especially if the wallet or address from which the funds were moved is popular or outdated.

Recently, a bitcoin wallet that contained 69,369 bitcoins, or an estimated $972 million, was transferred and emptied.

According to the site coindesk The wallet belongs to the infamous “Silk Road” store that was active on the dark web.

According to Elliptic, the transaction took place yesterday, Tuesday, from the fourth largest Bitcoin wallet, with the address:

“1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx”

Towards an unknown address The Twitter account “Whale_alert” also confirmed the transaction:

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🚨 #BTC ($955,011,610) Transferred from unknown wallet to unknown wallet

TX:

– whale alert (whale_alert) November 3, 2020

The transaction and transfer fee did not exceed $12 or 0.00087980 BTC.

The mysterious wallet owner sent nearly $1 billion and paid $12 in fees without being asked to identify himself (KYC), undergo anti-money laundering (AML) procedures, or any other complex policy.

Who owns this wallet? Is it the same from the money from them?

In the crypto world, it is normal for users to lose or forget the keys to their Bitcoin wallets.

Or, these keys can be lost due to computer hard disk failure, human error, and other different scenarios.

It is worth noting that the amounts of lost bitcoins vary in value from a few dollars to several million.

This is what makes some hobbyists and hackers try to find a way to gain access to the private keys of wallets that contain huge amounts of Bitcoin, which is what we previously discussed on the Arab Bitcoin website:

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Attempts to hack into a Bitcoin wallet worth $690 million

While in another explanation, Mr. Tom Robinson, the co-founder of “Elliptic” indicated in a post on the “LinkedIn” website, in which he told that this money most likely originated from the “Silk Road” store.

He added that the cryptocurrencies may have been transferred by the imprisoned Silk Road store operator Ross Ulbricht or one of the sellers who were using the store.

For the record, this is the first transaction from the address since 2015, when 101 bitcoins were transferred to the e-BTC trading platform that offers the possibility of anonymous cryptocurrency exchange.

By tracking the bitcoin deposited in the fourth largest bitcoin wallet, we find that bitcoins moved to it on May 6, 2012 to remain unchanged there, with the exception of the 101 bitcoin transaction that we referred to.

Another scenario that Robinson also pointed out is that an encrypted file containing what are purported to be private keys to this wallet was circulated on hacker forums.

If the password is compromised, a hacker may have transferred the coins or their original owner to avoid hacks.

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In other words, two possibilities can be expected, according to what Robson told him, and they are:

realistic possibility: The owner of the wallet, aware of the activity around his coins, decided to move his inventory to a safe place and change the wallet.

This has previously happened with many wallets from the “Satoshi era” where coins are moving after years of inactivity.

Hollywood Possibility: One lucky guy got the wallet, and perhaps with the help of hackers he managed to get the recovery phrase.

Both possibilities are surprising, but given the security that Bitcoin is equipped with, the first possibility is more likely.

But for Alon Gal, chief technology officer of cybercrime intelligence firm Hudson Rock, the “Hollywood prospect” must be taken seriously, too.

He tells that there is a market for everything, even idle wallets.

The possibility of hacking the password of a .dat file and not the private key of a particular wallet seems attractive, because it might be easier in theory.

In any case, whether he is a hacker or the true owner of the wallet, crypto traders invite and wish that this person does not transfer it to the market and continue to keep and store it.

In the event of these coins being pumped into the market, it is expected to be dumped which is bad for the bulls who are anticipating further appreciation for Bitcoin.

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