• CryptoQuant’s Ki Younger Ju believes there isn’t any US authorities involvement behind the current Silk Street BTC transfers.
• The cryptocurrency analyst cited on-chain information to point out that authorities wallets weren’t concerned within the transfers.
• Ju believes the buying and selling sample belongs to cryptocurrency trade wallets, to not the U.S. authorities.

Ki Yong-ju, co-founder and CEO of on-chain analytics agency Cryptoquant, mentioned the current information that the US authorities has transferred seized bitcoins from Silk Street could also be inaccurate. I believe there may be A cryptocurrency analyst cited on-chain information to assist his arguments and theories.

Yong Ju responded on Twitter as we speak to the information that the US authorities has moved seized bitcoins from the defunct on-line black market Silk Street. In response to Ju, the pockets addresses concerned within the transaction should not owned by the US authorities. He added that these addresses didn’t match any of the addresses the federal government disclosed in earlier court docket filings.

The CryptoQuant founder cited an earlier tweet from the identical blockchain analytics agency Arkham Intelligence. In Might 2023, Arkham disclosed the pockets tackle utilized by the US authorities to retailer BTC seized from Silk Street hackers. Yongju mentioned there have been no wallets matching these concerned on this switch.

Ki Yong-ju added that the transaction sample witnessed in current remittances resembled that of cryptocurrency trade wallets somewhat than these managed by the federal government. Ju mentioned the wallets look like trade deposit wallets and trade scorching wallets.

Julio Moreno, head of analysis at CryptoQuant, shared a paper stating that 1,500 BTC, believed to have been transferred by the US authorities, was despatched to a modified tackle. Moreno believes the switch had no impact on Bitcoin’s value as there are nonetheless over 204,000 Bitcoins left in authorities wallets.