US Government Transfers 10,000 Silk Road Bitcoin Worth $600 Million to Coinbase

Aug 14, 2024, 06:13 PM

The U.S. government has transferred 10,000 Bitcoin, valued at approximately $600 million, to a Coinbase Prime wallet. This Bitcoin is part of the $2 billion in assets seized from the Silk Road, a notorious online black market. The transfer was executed by a U.S. government-associated wallet, which had received the Bitcoin from a known government wallet two weeks prior. The move has been confirmed by various sources, including Arkham Intelligence and PeckShieldAlert. Despite the significant transfer, Bitcoin prices have remained stable.