Silk Road Wallets Linked to Ross Ulbricht Move Millions in Bitcoin
A cluster of wallets labeled as Silk Road and allegedly linked to Ross Ulbricht moved about $3 million in Bitcoin (BTC) to a new address on Tuesday, according to Arkham Intelligence labeling.
Historically, these labeled wallets held up to 442,000 BTC in 2012. Currently, they hold about 416 BTC, valued at roughly $38.25 million at current prices.
The recent transfer involved 33.7 BTC, approximately $3 million, sent to an address ending in z7ga54. Notably, the WoPx1 wallet contains about 90 BTC and had not conducted transactions for at least 14 years.
Coinbase on-chain analyst Conor Grogan connected about 430 BTC distributed across dozens of wallets linked to Ulbricht. These wallets were not confiscated by the U.S. government and had remained untouched for over 13 years.
Grogan identified Ulbricht-linked addresses using public labels cited in trial documents and tracked by multiple sources.
Ross Ulbricht was pardoned by President Donald Trump in January and later spoke at the Bitcoin 2025 conference, where he thanked the Bitcoin community.
Around January, a U.S. court approved the sale of $6.5 billion in Bitcoin seized from Silk Road.
Experts note that if the Tuesday transactions are connected to Silk Road, they could still be subject to federal seizure. The motive behind the transfers remains unclear.
