Exclusive: US Government Transfers Millions in Seized Bitcoins to Coinbase Prime Wallet
Discover how the US government transferred 3,940 seized Bitcoins worth $241 million from a convicted drug trafficker to a Coinbase prime wallet.
Seized Bitcoins from Banmeet Singh’s Case
Get insights into how dark web vendor Banmeet Singh was sentenced to five years in jail for drug-related activities and how the US government seized $150 million worth of Bitcoins from his cryptocurrency accounts.
The US Government Moves Seized Bitcoins to Coinbase Prime Wallet
Learn about how the US government has recently transferred 3,940 seized Bitcoins to a Coinbase prime wallet, amounting to a total value of $241 million.
- Blockchain data firm Arkham Intelligence confirms the transfer of assets from convicted drug trafficker Banmeet Singh to Coinbase prime wallet.
- The seized Bitcoins are valued at $241 million.
- On-chain sleuth Lookonchain highlights that the US government holds a total of 213,546 BTC, equivalent to around $13.07 billion.
- Data from Bitcoin Treasuries indicates that the US government leads in Bitcoin holdings, followed by China and the UK with 190,000 BTC and 61,000 BTC, respectively.
Insight into Banmeet Singh’s Drug Trafficking Case
Delve into the details of how Banmeet Singh, a dark web vendor, was sentenced to five years in prison for distributing narcotics and was ordered to forfeit $150 million worth of seized Bitcoins.
- Singh’s drug organization laundered millions of dollars in drug proceeds into crypto accounts.
- Customers paid for drugs using cryptocurrency on vendor sites associated with Singh.
- The US Drug Enforcement Agency (DEA) hailed this seizure as the largest cryptocurrency seizure ever carried out.
US Government’s History of Seizing and Selling Bitcoins
Understand the US government’s actions of seizing and selling off Bitcoins, including assets obtained from Silk Road auctions, US Marshals announcements, and more.
- Renowned figures like Jameson Lopp, co-founder of Casa, shed light on the US government’s history of seizing and selling at least 195,091 Bitcoins.
- This trend includes Bitcoins obtained from various sources, such as Silk Road auctions and US Marshals announcements.
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