According to data from on-chain intelligence platform Arkham Intelligence, a cryptocurrency wallet labeled as controlled by the US government transferred approximately 3,940 Bitcoins (valued at $241 million) to the Coinbase exchange on Wednesday (26th). The wallet still currently holds approximately $13.3 billion worth of Bitcoin.
Source: Arkham
According to Arkham, the 3,940 Bitcoins were originally seized from a drug dealer named Banmeet Singh. The U.S. Department of Justice stated in a press release issued in April this year that Singh was sentenced to 5 years in prison for selling controlled substances on multiple darknet markets, including Silk Road, Alpha Bay, and Hansa. Ordered the forfeiture of approximately $150 million in proceeds of crime.
This wallet related to the US government was also revealed to have transferred 30,175 Bitcoins to Coinbase in early April, worth approximately US$2 billion. One of the transactions sent 0.001 BTC, which was considered by the market to be a test transaction, setting the stage for subsequent large-scale transactions. Prepare for transfers and sell-offs.
While the price of Bitcoin has continued to fall recently, some bearish events have attracted market attention, including the Mt. Gox Exchange Reorganization Trustee’s announcement that repayments will begin in early July, and the German government’s crypto wallets that have successively transferred a large amount of money in recent days. Bitcoin transfer to exchange.
This article Suspected US government-related address transferred $241 million worth of Bitcoin to the exchange first appeared on Zombit.
