Silk Road Founder Ulbricht Receives 300 BTC Donation Worth 31.4 Million

Ross Ulbricht, the founder of the darknet marketplace Silk Road, has recently received a substantial donation of 300 Bitcoin (BTC), valued at approximately $31.4 million. This donation was transferred to Ulbricht's donation wallet early on Sunday, as tracked by blockchain data. The transaction stands out due to its size, significantly surpassing previous donations Ulbricht had received since his release from prison.

Ulbricht, who was sentenced to life in prison for his involvement with Silk Road, was granted a full and unconditional pardon by U.S. President Donald Trump on January 21. Following the pardon, he was released after serving 12 years in prison. The latest donation is part of a series of financial gains Ulbricht has experienced since his release. In addition to the donation, Ulbricht has access to millions of dollars worth of BTC that were not seized by the U.S. government during the 2013 Silk Road bust. During that time, the government seized over 100,000 BTC. However, some of these funds remain unaccounted for, and Ulbricht may have access to them.

Blockchain data indicates that Ulbricht transferred the received funds on June 1, sending $31.29 million to one address and $10,000.43 to another. This transaction occurred after Ulbricht had already secured $1.8 million from an ongoing auction of his personal items. The auction, which is live until June 2, is being conducted on the Bitcoin-only marketplace Scarce City. Ulbricht's personal items, including a sleeping bag, backpack, prison ID cards, and paintings he created during his incarceration, have fetched significant sums. For instance, his most recent prison ID card was sold for 5.5 BTC, worth over $580,000, and a December 2023 oil painting entitled ‘Archway’ was sold for 1.01 BTC, worth over $106,000.

The large sums Ulbricht has received in donations and from the auction of his personal items raise questions about the source of the funds. Some have speculated that the 300 BTC donation could be a self-transfer, but this theory remains unconfirmed. The donation, along with the funds from the auction and the potential access to dormant BTC, suggests that Ulbricht has significant financial resources at his disposal. This financial windfall comes at a time when Ulbricht is transitioning into his new life after his release from prison. The funds are likely to play a crucial role in his future endeavors and financial stability.