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- CryptoQuant’s Ki Younger Ju believes that the U.S. govt isn’t behind the latest Silk Highway BTC transfers.
- The crypto analyst cited on-chain information to indicate that the federal government’s wallets weren’t concerned within the transfers.
- Ju believes that the transaction patterns belong to crypto alternate wallets reasonably than the U.S. Govt.
Ki Younger Ju, the co-founder, and CEO of on-chain analytics agency CryptoQuant, believes that the latest information of america authorities transferring Bitcoins seized from the Silk Highway could also be inaccurate. The crypto analyst cited on-chain information to assist his argument and idea.
Younger Ju took to Twitter earlier right this moment to answer the information of the U.S. authorities transferring the Bitcoins it had seized from the defunct on-line black market Silk Highway. In accordance with Ju, the pockets addresses concerned within the transactions will not be owned by the U.S. authorities. He added that the addresses didn’t match with any of the addresses disclosed by the federal government in earlier courtroom filings.
The CryptoQuant founder cited a earlier tweet from fellow blockchain analytics agency Arkham Intelligence. In Could 2023, Arkham had printed the pockets addresses that have been utilized by the U.S. authorities to custody the BTC seized from the Silk Highway hacker. In accordance with Younger Ju, not one of the wallets matched the one concerned within the newest switch.
Ki Younger Ju added that the transaction sample witnessed within the newest switch resembled that of crypto alternate wallets reasonably than the one managed by the federal government. Ju acknowledged that the wallets seemed to be an alternate deposit pockets and an alternate sizzling pockets.
Julio Moreno, the pinnacle of analysis at CryptoQuant, shared his thesis which acknowledged that the 1500 BTC that have been believed to be transferred by the U.S. authorities have been despatched to a change deal with. Moreno believes that the switch didn’t have an effect on BTC’s value as a result of the federal government nonetheless has over 204,000 BTC in its wallets.