Golden Finance reported that ZachXBT, a well-known on-chain analyst in the cryptocurrency field, after in-depth monitoring and investigation, found that the previously widely circulated claim that the auction donation of Ross Ulbricht, the founder of the “Silk Road”, might be “self-donated” is very likely not to hold true.
In its latest analysis, ZachXBT pointed out that there are two Bitcoin addresses closely related in the time dimension to the 300 BTC donation received by Ross Ulbricht (which came from the mixer Jambler). Among them, the Bitcoin transaction records at address 1Mp5hH can be traced back to the exchange activities at the end of 2014. Another address, 1CNDW, also had exchange-related operations in 2019 and was previously specially marked in the compliance monitoring tool. It is worth noting that these two addresses have been dormant since November 2019. It was not until April and May 2025 that they suddenly made large deposits to the coin mixer Jambler, and this time point was very close to the time when Ross Ulbricht received the donation.
By sorting out the activity trajectories on the chain of these addresses, ZachXBT’s investigation suggests that these two addresses are very likely to be the true sources of Ross Ulbricht’s auction donations, rather than the previously speculated “self-donation” behavior. This discovery might trigger new discussions within the cryptocurrency community and among those following the Ross Ulbricht case, adding new variables to the course of the entire event.
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