TLDR
- Ross Ulbricht received 300 Bitcoin worth $31.4 million from unknown sources using the Jambler mixing service
- Blockchain analyst ZachXBT says the donation was not from Ulbricht himself since the wallets were active while he was in prison
- Ulbricht raised over $1.8 million from auctioning personal items including prison belongings and artwork on Scarce City
- His final prison ID card sold for 5.5 Bitcoin worth over $576,000 to collectors
- Ulbricht may still have access to 430 Bitcoin worth $47 million in dormant wallets never seized by authorities
Ross Ulbricht, founder of the Silk Road darknet marketplace, received 300 Bitcoin worth $31.4 million from unknown sources on June 1. The large donation came through wallets using the Jambler mixing service.
Blockchain analytics firm Lookonchain first reported the transfer to Ulbricht’s donation wallet. The funds drew attention from crypto researchers who questioned their origin.
Some social media users speculated the money came from Ulbricht’s hidden Silk Road profits. However, blockchain analyst ZachXBT disputed this theory after investigating the transaction.
Update: Few entities regularly use Jambler in size so I found a potential demix for the donation. 1Mp5hH originates from late 2014 exchange activity. 1CNDW has 2019 exchange activity and was previously flagged in compliance tools.
1Mp5hH & 1CNDW were depositing in size to…
— ZachXBT (@zachxbt) June 2, 2025
ZachXBT found that both sending wallets were active in 2014 and 2019 while Ulbricht was in prison. One address showed exchange activity from late 2014, while another was flagged in compliance tools and active in 2019.
“Everyone was accusing Ross of a self-donation, so if anything, this proves it was a donation and not his secret stash because there was activity when he was away in prison,” ZachXBT wrote on X.
The wallets had been dormant since November 2019 until making deposits to Jambler between April and May 2025. ZachXBT noted that few entities regularly use Jambler in large amounts.
Ulbricht transferred the received funds on June 1, sending $31.29 million to one address and $10,000 to another. The timing coincided with his ongoing auction of personal items.
Prison Items Fetch High Prices
Ulbricht raised over $1.8 million through a Bitcoin-only auction on Scarce City. The sale featured personal belongings from before his 2013 arrest and prison memorabilia.
His final prison ID card became the auction’s top item, selling for 5.5 Bitcoin worth over $576,000. Ulbricht noted in the item description that a prison guard tried to make him stop smiling for the photo.
“The guard tried to get me to stop smiling for the photo, but my joy comes from within, so I smiled that day, even though I was in prison,” he wrote.
Other items included a sleeping bag, backpack, drum, clothing, and paintings created during incarceration. A 2023 oil painting called “Archway” sold for 1.01 Bitcoin worth over $106,000.
The painting was created with fellow inmate Omega, who taught Ulbricht oil painting techniques. Ulbricht wrote that the archway gave him hope that “something better would be on the other side.”
Millions in Unclaimed Bitcoin
Ulbricht may have access to much larger Bitcoin holdings that authorities never found. Coinbase director Conor Grogan discovered 430 Bitcoin worth around $47 million in dormant wallets.
These wallets have remained inactive for over 13 years since before Ulbricht’s arrest. Arkham Intelligence confirmed the connection between 14 Bitcoin addresses and Silk Road operations.
One wallet alone contains Bitcoin worth over $9 million. In late April, two dormant wallets became active and transferred 3,422 Bitcoin worth $324.2 million.
The US government seized over 100,000 Bitcoin during the 2013 Silk Road bust. However, these additional wallets were never discovered or confiscated by authorities.
Ulbricht served 11 years of a double life sentence plus 40 years before President Donald Trump granted him a full pardon on January 21, 2025.
The post Mystery Bitcoin Donor Sends Ross Ulbricht $31.4 Million After Prison Freedom appeared first on CoinCentral.
