On June 26, 2024, the U.S. government transferred 3,940 bitcoins (CRYPTO:BTC), valued at $243 million, to an exchange address tagged as Coinbase.
These bitcoins were originally seized from a darknet market dealer.
The transfer signifies a significant move by U.S. law enforcement to manage seized digital assets.
By moving the bitcoins to Coinbase, a regulated cryptocurrency exchange, authorities aim to ensure the digital funds are handled securely and transparently.
This action reflects ongoing efforts to address crimes related to the use of digital currencies.
By utilising platforms like Coinbase, the government demonstrates its commitment to integrating traditional legal processes with modern financial technologies.