The U.S. Government's New Bitcoin Address Has Been Found: It Costs $13 Billion! - Coin Newsletter

The wallet address used by the U.S. government to seize hundreds of millions of dollars worth of Bitcoin has been found.

Blockchain analytics firm Arkham has identified the address used by the United States to seize Bitcoins belonging to Banmeet Singh, who is linked to an international drug network.

Singh, who is an Indian citizen and sells drugs through dark web, was arrested in 2019 and some cold wallets were found during the operation.

Singh, who was extradited to the U.S. in 2023, reached a settlement with the authorities and agreed to return his illegally earned earnings.

According to Arkham data, the U.S. government seized Bitcoin 3,940 belonging to Singh as a result of the hearing, which took place in January 2024.

Thus, the amount of Bitcoins held in U.S. government wallets increased to 216,811**. At current prices, that's about $13.7 billion.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)