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International Business Times
International Business Times
Business
Marvie Basilan

Bitcoin Retreats After US Govt-Linked Wallet Moves Nearly $4M In Seized $BTC

Bitcoin United States Arkham Intelligence Coinbase CoinGecko DOJ
A digital wallet linked to the U.S. government moved seized funds just weeks after the German government sold off its seized Bitcoin stash. (Credit: Bybit/flickr.com)

KEY POINTS

  • Farace was convicted in 2021 for 'laundering drug trafficking Bitcoin proceeds'
  • A wallet linked to the U.S. government transferred 58 $BTC to Coinbase Prime Monday
  • Bitcoin was trading above $67,000 Monday but has since fallen to the $66,000 lows

A digital wallet linked to the U.S. government that held Bitcoins seized from a Xanax seller on the darknet has moved all of the account's $BTC holdings, at a time when the cryptocurrency market is still reeling from the aftermath of the German government's massive dump.

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