The 300 Bitcoins donated to Ross Ulbricht are related to the dark web platform Alphabay.

Gate News bot news, Chainalysis blockchain analysis shows that a cryptocurrency wallet associated with the defunct dark web market Alphabay appears to have donated $31 million worth of Bitcoin to Silk Road founder Ross Ulbricht.

Chainalysis stated that the 300 Bitcoins donated to Ulbrich earlier this month are related to Alphabay. Alphabay was the predecessor of Silk Road, operating from 2014 to 2017.

"We have reasonable grounds to suspect that these funds come from AlphaBay," said Chainalysis investigation director Phil Larratt. "In terms of the amount, this indicates that the funds are from early AlphaBay suppliers."

On-chain detective ZachXBT confirmed that these 300 Bitcoins did not come from the Silk Road and pointed out that the method of the donor transferring funds is suspicious.

They use various mixing services to cover their transaction trails and cash out small amounts of other cryptocurrencies to avoid detection, which he believes indicates the source of the criminals. ZachXBT stated on X that this donation appears to come from a "rough centralized mixing service" named Jambler, while ordinary privacy enthusiasts use decentralized mixers like Wasabi and the now-defunct Samourai.

ZachXBT pointed out that the analysis shows that this money is "legal donations, but not legal funds. The use of multiple mixers, DEX deposits, etc., is often to avoid illegal funds being frozen."

Source: Cointelegraph