Silk Road Bitcoin Wallets Move After 13 Years of Dormancy

Key Highlights

After 13 years, 312 Silk Road-linked bitcoin wallets moved $3.14 million to a single address this week.
Even after the transfer, these wallets still hold about $41.3 million in bitcoin, showing lasting Silk Road wealth.
Silk Road creator Ulbricht received a full pardon from the U.S. President Donald Trump earlier this year, after having spent more than 11 years in prison.

After sitting untouched for over 13 years, hundreds of Bitcoin (BTC) wallets linked to the infamous Silk Road marketplace suddenly stirred this week.

According to blockchain analytics firm Arkham Intelligence, around 312 wallets collectively moved about $3.14 million worth of bitcoin to a single, unidentified address “bc1q…ga54.” Although, the reason for this activity remains unknown.

The Silk Road-linked wallets still hold roughly $41.3 million in BTC despite the transfer, serving as a reminder of the digital fortune quietly persisting since the marketplace’s heyday. And this isn’t the first time dormant Silk Road wallets have drawn attention.

In January, Coinbase Director Conor Grogan identified around 430 bitcoins tied to Ross Ulbricht, the creator of Silk Road. These coins, untouched for more than a decade, are currently worth over $39.8 million. Grogan had noted that Ulbricht may still hold the private keys, meaning he could potentially access the funds in the future.

Ulbricht’s presidential pardon

Ulbricht is now free after the U.S. President Donald Trump issued a full and unconditional pardon earlier this year. He spent more than 11 years in prison, and was sentenced to serve two life sentences plus 40 years without parole.

In a statement, he thanked Trump profusely, dubbing the pardon “a gift that changed my life.” Silk Road was best known for facilitating the sale of all manner of illegal goods, but the site was also a key driver in popularizing BTC and paving the way for its increase in online transactions.

Following his release, Ulbricht delivered a fiery speech at the Bitcoin 2025 conference. “Just a few months ago, I was trapped behind those prison walls, not knowing if I would ever get out,” he told a deeply emotional audience. “Now I’m free, and it’s because of you—the Bitcoin community.”

Auctions and gifts

Even after his release, Ross Ulbricht remains deeply connected to the crypto world. In June, he auctioned personal items from his time in prison, including his final ID card, paintings, and everyday belongings, raising over $1.8 million in bitcoin. For him, the auctions represented a bridge between his past life behind bars and this digital future he inhabits.

Additionally, Ulbricht received a 300-BTC gift, worth about $31 million, traced not to Silk Road but to AlphaBay, another notorious darknet market. The donation underlines the fact that even in the shadowy corners of the internet, Ulbricht’s story resonates.

It would seem that supporters from the digital underground are paying recognition of sorts, not only to his role in crypto history but also to his journey from prison to pardon. They are using blockchain as a form of modern storytelling and tribute.