Dormant $144M in Bitcoin From Defunct Abraxas Darknet Market Moved After Years of Inactivity

According to the onchain expert Zachxbt, 4,800 bitcoins taken from the now-defunct darknet marketplace Abraxas were transferred to a bitcoin mixing service. Abraxas exit scammed successful November 2015 aft little than a year, and the bitcoins had remained untouched since then.

$144M successful Bitcoin from 2015 Abraxas Scandal Suddenly Moved to Mixer

Zachxbt reported connected the societal media tract X (formerly Twitter) that the 4,800 bitcoins, valued astatine $144 million, from an Abraxas wallet were moved to a mixing service.

“An entity moved ~4800 BTC ($144M) originating from Abraxas darknet marketplace which exit scammed successful Nov 2015 aft antecedently sitting dormant,” the expert said connected Monday. “They consolidated funds and besides deposited [them into] a bitcoin mixer,” Zachxbt added.

When Abraxas defrauded its customers and vendors, bitcoin was trading astatine $386 per unit connected the time the marketplace disappeared. This means the stolen bitcoins from Abraxas were worthy astir $1.85 cardinal astatine that time.

Abraxas began its operations astir astatine the aforesaid clip arsenic the notorious darknet marketplaces Alphabay and Agora, launching connected Dec. 13, 2014. Data from gwern.net shows that the tract became inaccessible connected Nov. 5, 2015, and the bitcoin wallets were emptied successful March 2016.

Following Abraxas’ exit scam, vendors and marketplace users frantically looked for caller darknet marketplaces. In the process, respective of these caller platforms besides defrauded their users. Research indicates that Agora besides unopen down astir that period, starring some Agora and Abraxas users to migrate to Alphabay.

Subsequently, Alphabay rapidly became the starring DNM until instrumentality enforcement seized it successful July 2017. The crushed for the caller question of the Abraxas bitcoin stash remains unknown, but for the information that the funds are present worthy $142 cardinal much than they were successful 2015.

What bash you deliberation astir the Abraxas’ bitcoin moving? Share your thoughts and opinions astir this taxable successful the comments conception below.