$31M Bitcoin Donation to Silk Road’s Ross Ulbricht Traced to AlphaBay

A mysterious $31 million Bitcoin donation sent to Ross Ulbricht, the convicted founder of the infamous Silk Road darknet marketplace, has been traced to another dark web platform—AlphaBay—according to a new report by Wired citing blockchain analytics firm Chainalysis.

The transaction, which occurred on May 31, initially puzzled the crypto community. Speculation swirled, with some suggesting that the funds might have originated from Ulbricht’s own hidden crypto stash accumulated before his 2013 arrest. However, Chainalysis now believes the substantial donation likely came from a major figure associated with AlphaBay, a now-defunct darknet marketplace that once dominated the space.

AlphaBay launched in late 2014 and quickly rose to prominence as the largest successor to Silk Road, earning the moniker “Amazon of the dark web.” At its peak, it was reportedly 10 times larger than Silk Road, facilitating anonymous transactions using cryptocurrencies like Bitcoin and Monero. AlphaBay was ultimately shut down in 2017 by global law enforcement efforts, though it briefly resurfaced in 2021 before shutting down again.

Chainalysis did not identify the specific sender behind the multimillion-dollar transfer but emphasized that the donor was likely a prominent AlphaBay player. The motives behind the donation remain unknown, raising questions about potential ties to Ulbricht’s legacy or support from the broader darknet community.

Ulbricht, who had been serving a double life sentence plus 40 years without parole, was released from prison in January 2025 after serving 12 years. His release reignited interest in the Silk Road saga and the broader implications of darknet marketplaces in the cryptocurrency ecosystem. The substantial donation adds another twist to Ulbricht’s controversial story and continues to spark debate about crypto’s role in anonymous financial transactions.