The U.S. government transferred nearly $2 billion worth of Bitcoin (28,000 BTC) to an unknown wallet, according to Arkham Intelligence.
These Bitcoins were previously seized from the dark web market Silk Road. A U.S. appeals court formalized the forfeiture of 69,370 bitcoins linked to Silk Road last year.
Shortly after the transfer, the Bitcoins were split into two addresses: 19,800 BTC ($1.3 billion) and 10,000 BTC ($670 million), with the latter likely for institutional custody.
In April, a U.S. government wallet sent 2,000 BTC to a Coinbase Prime hot wallet, and Coinbase received $32.5 million for custodial services.
The DOJ’s seized Silk Road bitcoins, initially valued at over $1 billion, now include more than $12 billion. Over the weekend, former President Trump stated he might commute Silk Road founder Ross Ulbricht’s sentence if re-elected.
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