430 BTC Linked to Ross Ulbricht Uncovered as Kraken Donates $111,111

YEREVAN (CoinChapter.com) —  Cryptocurrency exchange Kraken announced a $111,111 Bitcoin donation to assist Ross Ulbricht, founder of the Silk Road dark web marketplace. The donation aims to support his reintegration after spending years in prison.

Kraken shared the news on X, encouraging the Bitcoin community to contribute further through a public address. The exchange stated,

“Dear Ross, all of us at Kraken want to make sure that after what you’ve been through, you’re able to land on your feet with the support of the community that loves you most, the Bitcoin community. That is why we’ve donated $111,111 in BTC to YOU.”

This contribution follows Ulbricht’s presidential pardon, granted earlier this week, and aligns with the Bitcoin community’s efforts to support individuals who shaped its history.

Ross Ulbricht’s Role in Bitcoin’s Early Days

Ross Ulbricht became a central figure in Bitcoin’s history as the creator of Silk Road, an online marketplace facilitating illegal transactions through cryptocurrency. Arrested in 2013, he was sentenced in 2015 to life in prison for charges including money laundering, hacking, and conspiracy.

His case raised debates about internet freedom, excessive sentencing, and Bitcoin’s association with illicit markets. After his pardon, some crypto leaders called for clemency for other prominent figures, including Roger Ver. Kraken co-founder Jesse Powell thanked former President Donald Trump for honoring his commitment to free Ulbricht.

Discovery of Dormant Bitcoin Stash Linked to Ulbricht

In a separate development, Coinbase’s Conor Grogan identified a 430 BTC stash connected to Ulbricht. These dormant Bitcoin wallets, untouched for over 13 years, are currently valued at approximately $47 million.

Grogan disclosed on X, “

I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the US Govt and have been untouched for 13+ years. Back then, these were probably dust wallets. Now, collectively, they are worth about $47M.”

The wallets were referenced in court documents during Ulbricht’s trial but remained inactive since his arrest. Grogan noted that this information is publicly available through trial filings and blockchain records.

Ethical Concerns About Dormant Bitcoin Wallets

The discovery of the 430 BTC sparked discussions on social media about the ethics of accessing funds tied to the Silk Road. Some users questioned whether these funds should remain untouched, with one commenting, “Some things are better left unsaid.”

Grogan emphasized uncertainty about whether Ulbricht still holds the private keys to the wallets.

“Unlikely if he has the keys still stored down anywhere. I guess we will know soon enough,”

he added.

Grogan, known for his blockchain exploration, previously tracked and recovered $322,000 in Ethereum Classic (ETC) for an owner unaware of the funds. This earned him recognition as a blockchain investigator within the crypto community.

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