- CryptoQuant’s Ki Younger Ju thinks the US authorities shouldn’t be behind the latest Silk Highway BTC transfers.
- The crypto analyst cited on-chain information to point out that authorities wallets weren’t concerned within the transfers.
- Ju believes that transaction patterns belong to crypto change wallets reasonably than the US authorities.
Ki Younger Ju, co-founder and CEO of on-chain analytics agency CryptoQuant, believes latest information of the US authorities transferring seized Bitcoins on the Silk Highway could also be inaccurate. The crypto analyst cited on-chain information to help his argument and concept.
Younger Ju took to Twitter earlier at the moment to answer the US authorities’s announcement of the relocation of Bitcoins he had seized from the previous on-line black market Silk Highway. Based on Ju, the pockets addresses concerned within the transactions don’t belong to the US authorities. He added that the addresses didn’t match any of the addresses disclosed by the federal government in earlier court docket paperwork.
The founding father of CryptoQuant quoted a earlier tweet from fellow blockchain analytics agency Arkham Intelligence. In Could 2023, Arkham had launched the pockets addresses utilized by the US authorities to carry BTC seized from the Silk Highway hacker. Based on Younger Ju, not one of the wallets matched the one concerned within the newest switch.
Ki Younger Ju added that the transaction sample seen within the newest switch resembled that of crypto change wallets reasonably than government-controlled ones. Ju stated the wallets seem like an change deposit pockets and a sizzling change pockets.
Julio Moreno, the top of analysis at CryptoQuant, shared his thesis that the 1500 BTC allegedly transferred by the US authorities was despatched to a change tackle. Moreno believes the switch didn’t have an effect on the value of BTC as the federal government nonetheless has over 204,000 BTC in its wallets.
