Conor Grogan, a Director at Coinbase, has identified 430 BTC distributed across various wallets potentially tied to Ross Ulbricht, the founder of the Silk Road marketplace.

These Bitcoin holdings, untouched for over a decade, are estimated to be worth $47 million based on current market prices.

In a Jan. 22 post on X (formerly Twitter), Grogan pointed out that these funds are not among the more than 100,000 BTC seized by US authorities during Silk Road’s 2013 shutdown.