Ross Ulbricht’s latest receipt of 300 Bitcoin is from “questionable sources,” however it’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 Street, acquired 300 Bitcoin (BTC), value $31.4 million, to his pockets that was soliciting donations, Blockchain analytics agency Lookonchain mentioned in a June 1 publish to X.
The funds got here from wallets utilizing a centralized mixing service known as Jambler, which led some social media customers to take a position, with out proof, that the funds may very well be Ulbricht’s earnings from the Silk Street, which he may need hidden away earlier than he was nabbed by authorities and despatched to jail.
Nevertheless, ZachXBT mentioned in a June 2 X publish that he was skeptical that that is the case as a result of “few entities commonly use Jambler in dimension,” and he discovered “a possible demix for the donation.”
“It doubtless doesn’t look like a self donation as individuals had been claiming although it comes from a questionable sources as a result of flagged deal with” he mentioned.
The newest Bitcoin donation got here from wallets utilizing the Jambler mixing service, however “regular privateness fanatics use decentralized mixers,” based on ZachXBT.
ZachXBT mentioned one of many addresses concerned has change exercise relationship again to late 2014, whereas one other was energetic in 2019 and beforehand flagged in compliance instruments.
“Each had been depositing in dimension to Jambler at comparable instances because the 300 BTC Ross donor acquired from Jambler. Each had dormant BTC from Nov 2019 till the mixer deposits comprised of April to Might 2025,” he mentioned.
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 Street, 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 mentioned in January he discovered 430 Bitcoin, value over $45 million, in wallets he claimed had been tied to Ulbricht. In accordance with Grogan, the wallets have been inactive for over 13 years and had been by no means seized by authorities.
Blockchain analytics agency Arkham Intelligence backed up Grogan’s evaluation, tracing 14 Bitcoin addresses related to Silk Street, with one holding over $9 million in Bitcoin.
Associated: Ross Ulbricht requires ‘Bitcoin Jesus’ Roger Ver to be freed subsequent
Ulbricht not too long ago held an public sale of non-public belongings, which introduced in additional than $1.8 million value of Bitcoin.
The gathering included private results from earlier than his 2013 arrest, equivalent to a sleeping bag, backpack, a drum and jail memorabilia like a lock, pocket book, clothes and a number of other work created whereas incarcerated.
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