"The Bitcoin whale that has been sleeping for ten years has awakened, and $322 million has been transferred in a shocking manner!"

On May 7, 2025, according to the Crypto King's official account, two dormant wallets associated with the Silk Road suddenly transferred 3,421 bitcoins, worth about $322.5 million. This is the first transaction since it was first activated in July 2013. On-chain data shows that the first transfer was 2,343.481 BTC, worth more than $221 million, including 21 sub-transfers. The second transfer was 1,078.99 BTC, with a current market value of about $101 million.

Although these transfers are huge, the low handling fees show that they are non-emergency operations, and the funds have not flowed into the exchange, which is suspected to be an internal reorganization. On-chain tracking platforms Blockchair and Whale Alert pointed out that these digital assets can be traced back to the notorious dark web market "Silk Road", whose founder Ross Ulbricht was convicted in 2015 and pardoned in early 2025.

Earlier this year, Coinbase director Conor Grogan exposed several wallets potentially related to Ulbricht, which held thousands of bitcoins worth tens of millions of dollars, causing market shock. Now, the Silk Road whale has resurfaced, and the Bitcoin community is paying close attention to the follow-up developments.