Alongside contributions from numerous supporters, Ross Ulbricht also retains access to a substantial amount of Bitcoin—worth millions of dollars—that was never confiscated.
“An unidentified wallet sent 300 BTC—valued at approximately $31.4 million—to Ross Ulbricht, the creator of the Silk Road darknet marketplace, in a single transaction, according to data from Arkham Intelligence.”
U.S. President Donald Trump granted Ross Ulbricht a full and unconditional pardon on January 21. After serving 12 years in prison, Ulbricht walked free following the presidential decision.
Blockchain records reveal that on June 1, Ulbricht moved the received funds, transferring approximately $31.29 million to a single address and an additional $10,000.43 to a different one.
The recent donation significantly surpasses the amounts Ulbricht received following his release. A wallet managed by the Free Ross campaign collected approximately $270,000 in Bitcoin within a few days of his freedom. These contributions were intended to support “Ross’s transition into his new life.”
Ulbricht’s Personal Items Raise $1.8 Million at Auction to Date
These transactions occurred after Ulbricht had already raised $1.8 million through the ongoing auction of his personal belongings. The Bitcoin-exclusive marketplace Scarce City is hosting the auction, which will remain active until June 2.
I’ve decided to auction some personal items from before my arrest and during my time in prison. I don’t need the reminders, and I’m sure some of you will love to have them.
In a note on Scarce City, Ulbricht wrote:
The auction includes Ross Ulbricht’s personal belongings, such as a backpack and sleeping bag he used before his arrest, identification cards from his time in prison, and artwork he created while incarcerated.
A buyer eventually purchased Ulbricht’s latest prison ID card for 5.5 BTC—worth over $580,000—after the original winning bidder failed to pay the 11 BTC (approximately $1.1 million) bid.
According to the item’s description, a prison guard threatened to revoke Ulbricht’s visitation privileges in 2024, prompting authorities to reissue his ID with an updated photograph.
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 🙂
Ulbricht remarked:
Ulbricht and a fellow inmate known as Omega completed an oil painting titled Archway in December 2023 and sold it for 1.01 BTC—valued at over $106,000. According to the item’s description, Omega mentored Ulbricht in oil painting techniques.
I loved the look of this archway in a photograph so much, I had to paint it. It gave me the feeling that, if I could pass through it, something better would be on the other side.
He wrote:
Ulbricht May Hold Access to Millions in Long-Dormant Bitcoin
Ulbricht has accumulated substantial donations and may still hold access to a significant amount of Bitcoin—potentially worth millions—that U.S. authorities did not confiscate.In the 2013 Silk Road takedown, the government seized more than 100,000 BTC.
On January 22, Coinbase director Conor Grogan discovered a total of 430 BTC—valued at approximately $47 million—distributed across several wallets associated with Ulbricht. Grogan pointed out that these wallets had remained inactive for more than 13 years.
Grogan’s findings were verified by Arkham Intelligence, which identified 14 Bitcoin wallets connected to Silk Road. One of these wallets alone holds BTC valued at $9 million.
Earlier in the previous month, two long-dormant wallets transferred a total of 3,422 BTC—worth approximately $324.2 million—after showing sudden activity.
