Recently, a long-dormant Bitcoin wallet linked to the now-defunct dark web marketplace Abraxas transferred almost $144 million worth of Bitcoin to a bitcoin mixer.
This new development has sparked curiosity and rumors in the cryptocurrency world and among enthusiasts. Before unexpectedly ceasing operations in 2015, Abraxas was a significant dark web trading hub.
The platform lets users buy and sell illegal items and services like narcotics, stolen data, and weapons while maintaining their anonymity by using cryptocurrencies like Bitcoin as a means of payment. All funds held by buyers and sellers vanished when Abraxas abruptly went offline.
ZachXBT, a blockchain analyst, claims that the Abraxas wallet combined a staggering 4,800 bitcoins—worth about $144 million at the time of writing—into a single transaction. After that, a sizable sum was delivered to a cryptocurrency mixer hiding digital payments’ origins.
However, experts say bitcoin mixing services are regularly abused by criminals to conceal payments for unlawful operations and launder money.
This information has led to discussion about who is in charge of the Abraxas-connected wallet and their reasons for shifting the dormant funds after a long period of inactivity.
This unexpected development also occurs as regulatory crackdowns on cryptocurrency mixers increase in the US as authorities work to curb crimes involving digital assets.
Last year, the United Kingdom’s National Crime Agency also called for the regulation of crypto mixers because the way criminals are using them to avoid detection when laundering funds through cryptocurrencies was getting out of hand.
Also Read: United States Seizes $34M Worth Crypto Tied to Illegal Dark Web Activity
