$44.48 Million in Dormant Wallets Discovered Following Presidential Pardon

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$44.48 Million in Dormant Wallets Discovered Following Presidential Pardon

Ross Ulbricht's Bitcoin Wallets Discovered

On Wednesday, Conor Grogan, a director at Coinbase, discovered nearly 430 Bitcoin (BTC) across multiple wallets linked to Ross Ulbricht, the imprisoned creator of the illegal drug marketplace Silk Road. These wallets were not seized by the U.S. government and have remained untouched for over 13 years.

At current prices, the value of these assets amounts to approximately $44.48 million. It is uncertain whether Ulbricht still has access to the keys to these wallets. Grogan stated, "We will know soon enough," suggesting that it would be clear if the dormant Bitcoins start to move.

This discovery comes shortly after President Donald Trump pardoned Ulbricht, fulfilling a campaign promise. Ulbricht was serving a double life sentence since 2013 for creating the darknet website, a hub for the illegal trafficking of drugs, all paid for in Bitcoin.

It remains to be seen whether Ulbricht will be able to access these funds following his pardon.