$144M in Bitcoin from 2015 Abraxas Scandal Suddenly Moved to Mixer
An onchain analyst named Zachxbt has revealed that 4,800 bitcoins taken from the now-defunct darknet marketplace Abraxas have been transferred to a bitcoin mixing service. This comes after Abraxas exit scammed in November 2015 and the bitcoins remained untouched since then.
Zachxbt shared on X (formerly Twitter) that the 4,800 bitcoins, valued at $144 million, were moved from an Abraxas wallet to a mixing service. “An entity moved ~4800 BTC ($144M) originating from Abraxas darknet market which exit scammed in Nov 2015 after previously sitting dormant,” said the analyst. “They consolidated funds and also deposited [them into] a bitcoin mixer.”
The History of Abraxas and Darknet Marketplaces
Abraxas launched its operations around the same time as other infamous darknet marketplaces like Alphabay and Agora. However, Abraxas disappeared on November 5, 2015, and its bitcoin wallets were emptied in March 2016. At the time of its exit scam, bitcoin was valued at $386 per unit, making the stolen bitcoins worth approximately $1.85 million.
After Abraxas’ exit scam, users and vendors were forced to search for new darknet marketplaces. Unfortunately, many of these platforms also defrauded their users. Agora also shut down during this period, leading users from both Agora and Abraxas to migrate to Alphabay. Alphabay eventually became the leading darknet marketplace until it was seized by law enforcement in July 2017.
The Mystery Behind the Recent Bitcoin Movement
The reason for the recent movement of the Abraxas bitcoin stash remains unknown. However, it is worth noting that the funds are now worth $142 million more than they were in 2015. This sudden transfer to a bitcoin mixer raises questions about the intentions behind moving these funds after such a long period of dormancy.
Hot Take: Abraxas Bitcoin Scandal Resurfaces with Sudden Movement
The recent movement of the 4,800 bitcoins from the 2015 Abraxas scandal to a bitcoin mixing service has brought attention back to the darknet marketplace’s exit scam. With a value of $144 million, these stolen bitcoins have suddenly resurfaced after years of remaining untouched. The mystery behind this movement raises speculation about the motives and intentions behind it. It serves as a reminder of the risks associated with participating in darknet marketplaces and the ongoing challenges faced by law enforcement in combating illegal activities in the crypto space.
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