Last week, a single on-chain transaction funnelled 300 Bitcoin—worth roughly $31 million at today’s prices—into the public donation address that Ross Ulbricht began publishing soon after regaining his freedom. The sheer scale of the transfer instantly reignited decade-old rumours that the Silk Road founder might have salted away a secret war chest before his 2013 arrest. But fresh blockchain forensics paint a more convoluted picture: the coins appear to come not from Ulbricht’s own past, but from AlphaBay, the dark-web marketplace that eclipsed Silk Road before its spectacular 2017 takedown.

Where Did The 300 Bitcoin Come From?

Chainalysis, the New York-based cryptocurrency tracing firm whose software underpinned Operation Bayonet’s investigative backbone, says it has reconstructed the

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