Michaela
Ross Ulbricht, the founder of the Silk Road dark web marketplace, has recently received a transfer of 300 Bitcoin—valued at over $31 million—sparking online speculation about its origin. Blockchain analyst ZachXBT noted that it’s improbable Ulbricht moved the funds himself, leaving the source of the donation unclear.
According to a June 1 post on X from analytics firm Lookonchain, the Bitcoin was sent to a donation wallet associated with Ulbricht. The transaction reportedly originated from wallets linked to a centralized mixing service known as Hambler.
This development sparked online speculation, with some suggesting the funds could be proceeds from Ulbricht’s time operating the now-defunct dark web marketplace—money that may have been hidden before his arrest and subsequent imprisonment. However, there is currently no concrete evidence to support these theories.
Related: Silk Road Bitcoin Wallets Wake After 10 Years, Move $3M Suddenly
ZachXBT disputed these claims in a June 2 post on X, expressing doubt that the funds originated from hidden Silk Road profits. He noted that “very few entities use Jambler at scale,” and suggested there may be an identifiable trail linking the donation to other known sources.
The blockchain investigator also noted that one of the sending addresses had a history tied to exchange activity as far back as late 2014, while another was flagged in compliance systems and had been active since 2019.
Related: British Hacker Danny Khan Suspected Caught in Dubai With $18.5M Crypto
“It likely doesn’t appear to be a self donation as people were claiming though it comes from a questionable sources due to the flagged address,” ZachXBT wrote.
ZachXBT further supported this claim in response to a user inquiry, noting that while the public had accused Ulbricht of self-donating, the activity timeline during his time in prison indicates the funds were an actual donation, not linked to any alleged hidden stash.
Shortly after his inauguration in January, President Donald Trump granted Ulbricht a pardon, fulfilling a campaign promise he had previously made. Ulbricht, who had served nearly 12 years of his original sentence, saw his release mark a significant and unexpected shift in the long-running story of the Silk Road founder, sparking reactions across both political and cryptocurrency communities.
Read More
- Ross Ulbricht Breaks Silence in New Documentary After Pardon
- Kraken Donates $111K in Bitcoin to Ross Ulbricht After His Pardon
- DOJ Approved to Sell $6.5B in Bitcoin Seized from Silk Road Case
MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
