Ross Ulbricht

Bitcoin

Silk Road

Million

when

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According to analyst Conor Grogan, various wallets associated with the recently released Silk Road founder Ross Ulbricht are<a href="https://x.com/jconorgrogan/status/1882046613709115875" rel="noopener noreferrer nofollow">still worth</a> roughly $47 million at current prices.
These Bitcoin holdings have not been confiscated by the U.S. government.
According to Grogan, there are dozens of Ulbricht-associated wallets that hold Bitcoin dust (very small amounts of unspendable coins). These sats have exponentially grown in value over the last 13 years.
Yet, as the analyst suggests, it is unlikely that the Silk Road founder actually has the keys to these dust wallets.
Earlier today, someone also<a href="https://x.com/pete_rizzo_/status/1882068143075729825" rel="noopener noreferrer nofollow">donated</a> 1 BTC to a fund that was created to support the odious drug kingpin.
The DOJ has confiscated roughly 174,000 Bitcoin directly and indirectly from Ulbricht. This sum would be worth $18.4 billion now.
Ulbricht was arrested by the FBI back in October 2013 when Bitcoin was still trading at roughly $130.
The dark web marketplace managed to generate hundreds of millions of dollars worth of sales. Silk Road also earned roughly $13 million worth of Bitcoin in commissions.
In 2014, Ulbricht was sentenced to double life imprisonment (plus 40 years) and then jailed the following year.
The founder of the now-defunct exchange was then pardoned earlier this week.
Even though his release was celebrated by libertarian members of the Bitcoin community, it has also sparked a strong backlash.
Elie Honig, a legal analyst, <a href="https://edition.cnn.com/2025/01/21/politics/silk-road-ross-ulbricht-pardon-trump/index.html" rel="noopener noreferrer nofollow">told</a> CNN that Ulbricht is a "very dangerous individual." "It was a marketplace for crime. And he was tried by a jury, he was convicted on all counts, the judge sentenced him to life, and now he's out...I think it completely undermines what DOJ is all about," he said. <a href="https://u.today/bitcoin-wallets-linked-to-freed-silk-road-founder-still-worth-around-47-million" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Bitcoin Wallets Linked to Freed Silk Road Founder Still Worth Around $47 Million

U.Today

Other articles published on Jan 22, 2025

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