Ross Ulbricht’s big Bitcoin donor tied to silk road successor Alphabay: Report

A crypto wallet tied to the defunct dark web marketplace Alphabay was reportedly behind the donation of $31 million worth of Bitcoin to Silk Road creator Ross Ulbricht, according to blockchain analysis.

Blockchain analytics firm Chainalysis told WIRED for a June 5 report that it had tied the 300 Bitcoin A crypto wallet tied to the defunct dark web marketplace Alphabay was reportedly behind the donation of $31 million worth of Bitcoin to Silk Road creator Ross Ulbricht, according to blockchain analysis.

Blockchain analytics firm Chainalysis told WIRED for a June 5 report that it had tied the 300 Bitcoin

ZachXBT said on X that the donation appears to come from a “sketchy centralized mixing service,” called Jambler, whereas normal privacy enthusiasts use decentralized mixers such as Wasabi and the now-defunct Samourai.

The analysis suggested that the money was a “legitimate donation, but not legitimate funds,” ZachXBT told WIRED.

“Usage of multiple mixers, spreading out CEX [centralized exchange] deposits, etc, that is done typically if you are trying to avoid getting illicit funds frozen,” he said. 

Alphabay takedown on BTC links

Chainalysis was instrumental in the identification of AlphaBay-linked Bitcoin addresses, which played a key role in the takedown of the darknet marketplace in an investigation known as “Operation Bayonet” that spanned 2016 and 2017.

Any BTC held since then would have appreciated dramatically, potentially over 40-fold, but the identity of the donor and their motivation remain unknown. 

In January, US President Donald Trump fully pardoned Ross Ulbricht, who had been in prison for 12 years serving a double life sentence plus 40 years for running the Silk Road.