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Home»Taxes & Regulation»Silk Road founder receives $31.4M BTC donation after bagging $1.8M in auction
Taxes & Regulation

Silk Road founder receives $31.4M BTC donation after bagging $1.8M in auction

June 2, 2025No Comments2 Mins Read
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Ross Ulbricht, the founder of the darknet marketplace Silk Road, recently received a massive donation of 300 BTC, equivalent to around $31.4 million, from an unknown wallet, as per data from Arkham Intelligence. This significant donation comes after Ulbricht was granted a full pardon by former U.S. President Donald Trump on January 21, leading to his release from prison after serving 12 years of a life sentence.

Following the reception of the funds, Ulbricht proceeded to transfer the donated amount on June 1, sending $31.29 million to one address and $10,000.43 to another. This donation surpasses the previous contributions Ulbricht received upon his release, including $270,000 in Bitcoin from a wallet managed by the Free Ross campaign to aid in his transition back into society.

Additionally, Ulbricht has been conducting an auction of his personal items, which has garnered $1.8 million in total so far. The ongoing auction, hosted on the Bitcoin-exclusive marketplace Scarce City and ending on June 2, features items from Ulbricht’s life before and during his time in prison. Items up for bidding include a sleeping bag and backpack from before his arrest, prison ID cards, and paintings created during his incarceration.

One of the most notable items sold in the auction was Ulbricht’s prison ID card, which fetched 5.5 BTC, valued at over $580,000. A painting titled ‘Archway,’ created by Ulbricht in collaboration with a fellow inmate named Omega, was sold for 1.01 BTC, worth over $106,000. The auction has provided insight into Ulbricht’s life behind bars and his artistic endeavors during that time.

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Furthermore, Ulbricht may have access to millions of dollars worth of dormant BTC that were never seized by the U.S. government during the Silk Road bust in 2013. Coinbase director Conor Grogan discovered 430 BTC, valued at around $47 million, across multiple wallets linked to Ulbricht, which had been inactive for over 13 years. This discovery was confirmed by Arkham Intelligence, which identified 14 Bitcoin wallets associated with Silk Road, one of which contains BTC worth $9 million.

Recently, two of these dormant wallets became active, transferring 3,422 BTC worth $324.2 million. Ulbricht’s potential access to these significant funds adds another layer to his post-prison financial situation and future prospects. The unfolding developments in Ulbricht’s story highlight the complexities and implications of his involvement in the Silk Road marketplace and the subsequent legal proceedings that followed.

1.8M 31.4M Auction bagging BTC donation Founder Receives Road Silk
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