US Regime Transfers $243 Million Worth of Stolen Bitcoin to Coinbase


“On June 26, 2024, the U.S. government transferred 3,940 bitcoins, valued at $243 million, originating from a darknet market dealer. This batch of BTC was directed to an exchange address tagged as Coinbase. … This action by U.S. law enforcement coincided with similar sales of BTC by the German government in the preceding weeks. Prominent onchain analysts, including Zachxbt and the Arkham Intelligence team, tracked this movement. Arkham reported that these funds were [stolen] from narcotics dealer Banmeet Singh and [cleared for sale through a fence] following a trial in January 2024.” (06/26/24)