US authorities transfer 28,000 bitcoins to an unknown cryptocurrency wallet

The US authorities have transferred 28,000 bitcoins BTC $70,960.34 Bitcoin 4.72% Market capitalization $1.4 trillion VOL. 24 hours $2.69 billion confiscated in the Silk Road case to an unknown wallet. The funds, which belonged to the US Department of Justice, were sent from one of their addresses. According to Arkham Intelligence, 19,800 BTC of these coins were sent to one wallet and 10,000 BTC to another.

The experts noted that the latter deposit, according to their estimates, was sent to an institutional custodial service. In December 2023, the Court of Appeal formalized the confiscation of 69,370 BTC belonging to the illegal Internet platform Silk Road, which was closed more than 10 years ago. These funds were seized in November 2020.

In April, a government wallet controlled by the US authorities initiated a transfer of about 2,000 BTC to Coinbase Prime. And in July, the U.S. Marshals Service chose Coinbase to provide storage and sales services for high-capitalization cryptocurrencies.