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US Government Sends $297 Million in Seized Crypto to Coinbase in One Day

US Government Sends $297 Million in Seized Crypto to Coinbase in One Day

Forfeited Bitcoin moves from US government wallet to Coinbase Prime. Photo by BeInCrypto
Forfeited Bitcoin moves from US government wallet to Coinbase Prime. Photo by BeInCrypto

The US government sent $297 million in Bitcoin (BTC) and Ether (ETH) to Coinbase Prime in two transfers on Monday. Blockchain intelligence firm Arkham tracked an initial $8.8 million deposit, then a second $288.33 million deposit three hours later.

The larger transfer combines forfeitures from three separate criminal cases. It includes assets tied to Brian Krewson, the defunct BTC-e exchange, and dark web drug dealer Ryan Farace.

A Pattern Tracked Before

This is not the first false alarm from a Coinbase Prime deposit. Forfeited funds moved the same way in January, sparking Samourai Bitcoin sale rumors….

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