A long-dormant Bitcoin wallet linked to the now-defunct dark web marketplace Abraxas has moved about $144 million in Bitcoin to a mixing service.
This new development has stirred interest and rumors in the bitcoin community.
Abraxas was a major dark web trading platform before abruptly stopping operations in 2015.
The network allows users to buy and sell illegal goods and services such as narcotics, stolen data, and guns while remaining anonymous by accepting cryptocurrency such as Bitcoin as payment. When Abraxas immediately went down, all cash held by buyers and sellers vanished.
According to ZachXBT, a blockchain expert, the recently active wallet associated with Abraxas aggregated 4,800 bitcoins worth around $144 million at the time of writing into a single transaction. Following that, a substantial sum was transmitted to ChipMixer, a cryptocurrency tumbler or mixer that conceals the source of digital payments.
However, experts claim that criminals frequently utilize bitcoin mixing services to mask payments for illegal operations and to launder money.
This information has sparked debate regarding who controls the Abraxas-connected wallet and why the cash were transferred after such a long period of inactivity.
Furthermore, others suggest that the move could be an indication that former Abraxas employees are cashing in on their profits years after the dark web company went down. Others assume that cops have long since taken the wallet and are now concealing the genuine source of the money.
This surprising outcome comes as regulatory crackdowns on cryptocurrency mixers intensify in the United States as authorities strive to combat digital asset-related crimes. The individuals responsible for this significant and perplexing dark web market transaction remain unknown.
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