Ross Ulbricht’s latest receipt of 300 Bitcoin is from “questionable sources,” but it surely’s unlikely to be a case the place he donated it to himself, says blockchain researcher ZachXBT.
Ulbricht, who based the notorious on-line black market Silk Highway, obtained 300 Bitcoin (BTC), value $31.4 million, to his pockets that was soliciting donations, Blockchain analytics agency Lookonchain stated in a June 1 put up to X.
The funds got here from wallets utilizing a centralized mixing service referred to as Jambler, which led some social media customers to invest, with out proof, that the funds may very well be Ulbricht’s earnings from the Silk Highway, which he might need hidden away earlier than he was nabbed by authorities and despatched to jail.
Nonetheless, ZachXBT stated in a June 2 X put up that he was skeptical that that is the case as a result of “few entities usually use Jambler in dimension,” and he discovered “a possible demix for the donation.”
“It possible doesn’t seem like a self donation as folks have been claiming although it comes from a questionable sources as a result of flagged deal with” he stated.
The newest Bitcoin donation got here from wallets utilizing the Jambler mixing service, however “regular privateness fanatics use decentralized mixers,” in accordance with ZachXBT.
ZachXBT stated one of many addresses concerned has change exercise relationship again to late 2014, whereas one other was lively in 2019 and beforehand flagged in compliance instruments.
“Each have been depositing in dimension to Jambler at comparable instances because the 300 BTC Ross donor obtained from Jambler. Each had dormant BTC from Nov 2019 till the mixer deposits made out of April to Might 2025,” he stated.
He added in response to a person’s question that “Everybody was accusing Ross of a self-donation, so if something, this proves it was a donation and never his secret stash as a result of there was exercise when he was away in jail.”
Ulbricht-tied wallets nonetheless have Bitcoin
Ulbricht ran Silk Highway, which used Bitcoin for its funds, till 2013 when he was arrested and sentenced to a double life sentence plus 40 years in 2015. He served 11 years behind bars earlier than US President Donald Trump pardoned him on Jan. 21.
Coinbase director Conor Grogan stated in January he discovered 430 Bitcoin, value over $45 million, in wallets he claimed have been tied to Ulbricht. Based on Grogan, the wallets have been inactive for over 13 years and have been by no means seized by authorities.
Blockchain analytics agency Arkham Intelligence backed up Grogan’s evaluation, tracing 14 Bitcoin addresses related to Silk Highway, with one holding over $9 million in Bitcoin.
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Ulbricht lately held an public sale of private belongings, which introduced in additional than $1.8 million value of Bitcoin.
The gathering included private results from earlier than his 2013 arrest, reminiscent of a sleeping bag, backpack, a drum and jail memorabilia like a lock, pocket book, clothes and several other work created whereas incarcerated.
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