Blockchain information demonstrates sudden Bitcoin transfers by US authorities, sparking rumors of an imminent BTC sale.
Per statistical unit of blockchain information Glass knotwallets linked to cryptocurrency seizures by US authorities have moved close to forty,000 BTC due to the fact mid-February.
While most transactions go back and forth concerning wallets, but Glass knot claims to have identified 9,861 BTC currently being transferred to the Coinbase exchange, amounting to practically $214 million.
About 40k $BTC from wallets linked with US government law enforcement seizures are on the go.
Of these, the vast majority seem to be inner transfers (so far), even so close to 9,861 $BTC seized by the Silk Road hacker have been sent to our Coinbase cluster. pic.twitter.com/afuEYcV18L
— glassnode (@glassnode) March 7, 2023
It is not clear what the objective of the transfers was, nor if the money raised at Coinbase had been offered.
The US has seized substantial quantities of cryptocurrencies in the previous as proof of instances of fraud and business assault. In 2013, the FBI dismantled the “Silk Road Black Market” and confiscated 144,000 BTC.
In February 2022, the US Justice Department announced that it had identified the culprit behind the 2016 Bitfinex hack, seizing all 94,000 BTC. In November of the similar 12 months, US authorities continued to recover an additional 50,000 BTC from an personal accused of hacking Silk Road.
US authorities have repeatedly held auctions to promote exhibits of BTC, but there has under no circumstances been a record of transferring Bitcoin dollars right to the exchange like that. Therefore, the over data is resulting in a stir in the Twitter crypto neighborhood, specifically when it comes to a pretty delicate second wherever an additional large “whale” is Mt. Gox which holds 144,000 BTC is about to start the course of action of returning traders just after ten many years of holding the asset.
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