An entity has moved 4,800 BTC ($144M) to a coin mixer from a wallet tied to defunct darknet marketplace Abraxas, which closed in 2015, according to blockchain analyst ZachXBT.
Abraxas shut suddenly eight years ago, locking user funds on the website in what was described as an "exit scam."
The funds were left untouched until this week, when the wallet owner consolidated them before transferring the full amount to a bitcoin mixer.
A mixer is a tool that jumbles up bitcoin transactions across a period of time by splitting the coins across various wallets. The U.S. treasury was looking to label coin mixers last week as a "primary money laundering concern."
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.