US Department of Justice transferred 2000 bitcoins worth $132 million to Coinbase Prime

In total, the wallet holds assets worth nearly $2 billion

03.04.2024 - 09:20

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2 min

What’s new? The bitcoin wallet belonging to the US authorities conducted a transaction to transfer funds to the institutional platform Coinbase Prime from the local crypto exchange Coinbase. Thus, on April 2, a DOJ-controlled address containing 30 174 bitcoins worth almost $2 billion at the current exchange rate sent 2000 coins worth more than $132 million to the platform.

Material by The Block

What else is known? Initially, the wallet conducted a test transaction, sending only 0,001 BTC worth $66. After 40 minutes, another 1 999 999 coins were transferred to the platform.

Experts at The Block speculate that these coins are part of the assets seized by the US Department of Justice from the now-closed Silk Road darknet marketplace. Late last year, an appeals court approved the seizure of 69 370 bitcoins and other cryptocurrencies linked to Silk Road.

In January this year, the US authorities announced their intention to sell 2875 BTC confiscated from Silk Road dragnet dealers Ryan Faras and Sean Bridges in 2021.

UK authorities will be able to freeze criminal crypto assets without conviction

They will also be given powers to destroy such assets if necessary

In November 2021, the US Department of Justice seized $3,36 billion worth of bitcoins from Silk Road hackers, the largest asset forfeiture in history. In October 2023, the value of bitcoins seized by various US agencies was as high as $5 billion.

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