Ross Ulbricht received 31 million USD Bitcoin from an anonymous wallet, suspected to be related to AlphaBay.

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Ross Ulbricht, the founder of the Silk Road dark web marketplace who was pardoned by President Donald Trump earlier this year, just received a Bitcoin donation worth 31 million USD from an anonymous wallet over the weekend.

This large donation comes less than 5 months after Ulbricht's sentence was released, fueling speculation that he may have secretly reclaimed assets from Silk Road.

Does not come from Silk Road but from AlphaBay?

According to the blockchain analysis company Chainalysis, the donation of 300 BTC has no connection to Silk Road. Instead, the origin of the funds is traced back to AlphaBay — a large-scale darknet marketplace that operated from 2014 to 2017, after Silk Road had been taken down.

AlphaBay was ten times larger than Silk Road, famous for trading drugs, malware, and illegal services. Phil Larratt, the investigation director of Chainalysis, stated that there is "reasonable grounds for suspicion" that the donation came from someone who was once a vendor of AlphaBay.

The famous blockchain investigator ZachXBT also confirmed that this amount of BTC does not originate from Silk Road. Although the sender used a Bitcoin mixing service, ZachXBT was still able to trace the wallet address that was previously marked by Chainalysis as related to illegal activities. He stated that the donation could be real, but "not legal money."

In addition, there are signs that the sender is trying to avoid detection: this wallet previously withdrew money through centralized exchanges with small, dispersed amounts, rather than large transactions, consistent with asset control evasion behavior.

Chainalysis refused to disclose details on how it traced connections to AlphaBay, but the firm previously played a key role in the Operation Bayonet crackdown conducted by the FBI, DEA, and Europol. This operation led to the arrest of Bryan Connor Herrell — an AlphaBay administrator — who was subsequently sentenced to 11 years in prison.

As for Ulbricht, he has not yet made any comments regarding this unexpected donation.

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