Nearly $1 billion stolen from a bitcoin wallet

Nearly $1 billion dollars were reportedly moved from a bitcoin wallet that has been inactive since 2013. It remains unclear whether the transaction was done by the real owner of the wallet or if someone stole it after breaching the password.

According to bitcoin records, more than 69,369 BTC, which are worth approximately $975 million, were moved over the past 24 hours. Alon Gal, CTO of security firm Hudson Rock was the first person to report the transaction.

“Unbelievable, someone was able to crack the password of the bitcoin wallet I reported on only a short time ago and spend the $1,000,000,000 that was inside it,” said Gal.

He added that “it is unclear if the real owner of the account did the transaction or someone managed a to hack and steal it, which is unlikely”.

There are speculations that the real owner might have moved the amount in the wake of recent reports, pointing out that his wallet was being used by hackers.

This wallet was supposedly inactive since 2013.

Analysts believe that the funds came from sales on Silk Road, the underground market that deals in illegal services and goods.