Wallet containing $2 billion worth of Bitcoin seized by DOJ appears to be sending test transactions to Coinbase Prime: Arkham data

A cryptocurrency wallet classified as part of the U.S. Department of Justice and holding about $2 billion worth of Bitcoin appears to have started test transactions on Coinbase Prime, according to data from Arkham.

Wallets holding more than 30,174 bitcoins began trading at 0.001. BTC

-4.39%
($65), Arkham has a wallet marked as belonging to Coinbase Prime. The transaction currently has one block confirmation. Exchanges typically require multiple confirmations before a transaction is confirmed.

The remaining funds were sent to the changed address. This means that they may have virtually stayed in the same place. However, if it is a test trade, further movement may occur.

The $2 billion worth of Bitcoin appears to be linked to funds the Justice Department seized from the now-defunct Silk Road dark web marketplace. Late last year, a U.S. appeals court upheld an order formalizing the confiscation of 69,370 Bitcoin and other cryptocurrencies associated with Silk Road.

DOJ in 2020 confiscated And it began seeking formal confiscation of the cryptocurrency, which was valued at more than $1 billion at the time.

Coinbase did not immediately respond to a request for comment.

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