Cryptocurrency exchange Kraken has made a significant gesture to Ross Ulbricht, founder of Silk Road, by donating $111,111 in Bitcoin (BTC) to support his reintegration after years of detention.
Meanwhile, Conor Grogan from Coinbase revealed the identification of a large amount of Bitcoin related to Ulbricht after more than 13 years of inactivity.
Kraken Supports Ross Ulbricht With $111,111 Bitcoin Donation
The exchange announced the donation through a post on X (Twitter), and provided a public address to receive additional contributions. Kraken encourages the Bitcoin community to get behind Ulbricht.
“Dear Ross, all of us at Kraken want to ensure that, after what you have been through, you can stabilize with the support of the community that loves you most, which is the Bitcoin community. That’s why we donated 111,111 USD BTC to YOU,” the exchange said. share.
Kraken’s donation reflects the Bitcoin community’s broader commitment to supporting those who have made important contributions throughout its history. The move comes after Ulbricht received a presidential pardon on Wednesday.
Ross Ulbricht, founder of online black market Silk Road, was sentenced to life in prison in 2015. The charges included conspiracy related to money laundering, cyberattacks and drug trafficking. His case has become a flashpoint in debates about internet freedom, the excesses of punishment and the role of cryptocurrencies in the illicit market.
Following Ulbricht’s presidential pardon, and as TinTucBitcoin reported, cryptocurrency market members are calling for a pardon for Roger Ver, “Bitcoin Jesus.” Among them is Kraken co-founder and president Jesse Powell, who also has expressed gratitude to President Donald Trump for fulfilling his pledge to free Ulbricht.
“Free Roger Ver,” Powell speak in a post.
Coinbase Leader Finds Ulbricht’s Long Lost Money
In a parallel development, Conor Grogan made an interesting discovery. The Director of Product Strategy and Business Operations at Coinbase revealed that he identified approximately 430 BTC in dozens of wallets related to Ulbricht. The property, untouched for more than 13 years, is now worth about $47 million.
“I found ~430 BTC in multiple wallets associated with Ross Ulbricht that were not confiscated by the US government and have been untouched for over 13 years. Back then they were probably dirt purses, but now, in total, they’re worth around $47 million. Welcome back Ross,” Grogan disclose.
These BTC, noted in court documents during Ulbricht’s trial, have not been touched since his arrest. This news has caused mixed reactions on social networks. Some users have questioned the ethics of recovering funds related to Silk Road’s operations.
“Some things are better left alone,” said one user on X expressed.
This reflects the cautious tone of the debate. Grogan refrained from sharing the specific wallet address, noting that it was public data from trial documents and blockchain analysis. It is unknown whether Ulbricht still has access to the keys.
“Not likely if he still has the keys stored somewhere. I guess we will know soon,” he said comment.
This discovery adds another layer of credibility to Grogan as a blockchain investigator, which has earned him the title “Indiana Jones of crypto.” In 2023, Grogan was search 322,000 USD Ethereum Classic (ETC) frozen and returned to owners unaware of their existence. His efforts have been widely recognized for ethical blockchain exploration.
“ETH forked in 2016; If you have a balance, you will get a 1:1 edit with ETC. My argument is that many people do not know that they are included in the scan. Forgetting you have coins on the blockchain (or not keeping track of the airdrop) is common. I have found six-figure sums for people before,” Grogan speak at that time.
These developments come at a time when Bitcoin’s theory of decentralization and financial sovereignty is under scrutiny. However, Kraken’s donation and Grogan’s revelations about inactive BTC wallets add a financial dimension to Ulbricht’s second chance.
