The US government transferred $241 million worth of seized Bitcoin from drug trafficker Banmeet Singh to Coinbase.
The US government transferred 3,940 Bitcoin worth $241 million to Coinbase, with funds believed to have been seized from Indian national Banmeet Singh, convicted of drug trafficking and money laundering. This move follows a similar transfer of 750 Bitcoin by the German government. Governments often sell or auction off cryptocurrencies acquired through criminal investigations or asset seizures.
June 26, 2024
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