Recently pardoned Silk Road founder Ross Ulbricht may still have access to a substantial Bitcoin fortune worth over $44 million, according to findings by on-chain researcher Conor Grogan.
Grogan discovered approximately 430 BTC spread across multiple wallets associated with Ulbricht that remained untouched during his 13-year imprisonment. These wallets, which escaped government seizure, were likely considered insignificant "dust wallets" at the time of Ulbricht's arrest in 2013.
While the discovery points to a potential windfall for the recently freed Ulbricht, questions remain about whether he can actually access these funds. Grogan noted it's uncertain if Ulbricht retained the private keys necessary to control the wallets after his lengthy incarceration.
The revelation comes as cryptocurrency exchange Kraken donated $111,111 in Bitcoin to support Ulbricht's reintegration into society. The exchange has also established a donation wallet that has already collected over 2.5 BTC (approximately $263,000) from community members.
For context, the U.S. government previously seized 144,000 BTC from Ulbricht following the Silk Road investigation. Current government holdings of seized Bitcoin total around 198,109 BTC, worth approximately $20 billion.
Ulbricht, who received a full pardon from President Donald Trump, has yet to comment publicly on these newly identified Bitcoin holdings. The 40-year-old was released after serving over a decade of what was originally two life sentences without parole for operating the Silk Road marketplace.
The crypto community awaits confirmation of whether Ulbricht can access these long-dormant funds as he begins his post-prison life.