tl;dr
Coinbase director Conor Grogan reveals that Bitcoin wallets belonging to Ross Ulbricht, the operator of the Silk Road online marketplace, still hold around $47 million worth of BTC. Ulbricht, who was serving a life sentence for running Silk Road, was pardoned by U.S. President Donald Trump. Grogan d...
Coinbase director Conor Grogan has revealed that Bitcoin wallets belonging to Ross Ulbricht, the operator of the Silk Road online marketplace, still hold around $47 million worth of BTC. Ulbricht, who was serving a life sentence for running Silk Road, was pardoned by U.S. President Donald Trump.
Grogan doubts Ulbricht's access to the funds, as it is unclear if he still has the necessary keys. The wallets, containing approximately 430 BTC, were not seized by the US government and have remained untouched for over 13 years.
Ulbricht received a harsh sentence compared to others involved in similar activities. President Trump cited support from the Libertarian Movement as a reason for the pardon.
President Trump criticized the severity of Ulbricht's previous sentence, issuing him an unconditional pardon and providing a statement on Truth Social. "I just called the mother of Ross William Ulbricht to let her know that in honor of her and the Libertarian Movement, which supported me so strongly, it was my pleasure to have just signed a full and unconditional pardon of her son, Ross."
Grogan casts doubt on whether Ulbricht can gain access to the Bitcoin in the wallets. He notes the addresses were identified from court documents, among other sources. Ulbricht received a double life sentence plus 40 years without the possibility of parole, which was significantly harsher than many individuals who sold illicit goods on Silk Road or similar platforms.