Ross Ulbricht, founder of Silk Road, received a 300 BTC (≈ $31 million) donation in June 2025 to his public “donation” wallet—sparking widespread speculation about its origins.
Chainalysis, supported by insights from blockchain sleuth ZachXBT, traced the funds through mixers like Jambler and linked them to addresses associated with the defunct dark‑web marketplace AlphaBay, active from 2014–2017.
ZachXBT argued the transaction wasn’t Ulbricht reclaiming old Silk Road profits but rather came from a “questionable source” filtered through mixers—suggesting it was a donation, not an internal transfer.
AlphaBay was reportedly ten times larger than Silk Road before being dismantled. Chainalysis estimates the 300 BTC likely came from a former vendor or significant user of that marketplace.
Donation timing is notable—following Ulbricht’s pardon in January 2025 by President Trump and release after over a decade incarcerated. The motivation remains unclear: whether symbolic support from darknet peers or gratitude-driven remains speculative.
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