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The U.S. government moved Bitcoin worth $922 million after the price of BTC surpassed $60,000.

A big step in the cryptocurrency market! 馃殌馃嚭馃嚫 The US government moved $922 million worth of Bitcoin when the price of BTC exceeded $60,000. 馃捁馃捈 How will this affect the cryptocurrency landscape? 馃馃捇

Date: 2024-02-29 Author: Marek Stiller
The U.S. government moved Bitcoin worth $922 million after the price of BTC surpassed $60,000.

The U.S. government has transferred $922 million worth of bitcoin from two cryptocurrency wallets that contained funds confiscated from Bitfinex in 2016.

The U.S. government’s transfers took place on the same day that Bitcoin crossed the $60,000 level for the first time in more than two years, February 28. Bitcoin rose 5.52% in the 24 hours to 21:45 UTC, reaching $62,507. The world’s first cryptocurrency has gained more than 20% over the past week.

The first test transfer, worth just 1 Bitcoin ($60,200 at the time of the transfer), took place on Feb. 28 at 3:39 p.m. Shortly thereafter, the U.S. government-tagged wallet sent a second transaction worth 2,817 Bitcoin ($172.74 million), a third transaction worth 0.01 Bitcoin ($613.35) and a fourth transaction worth 12,267 Bit coin ($748.46 million), according to data from Arkham Intelligence.

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The transfer of the funds came a day after Ilya Lichtenstein, the hacker who stole and laundered more than $4.5 billion in bitcoin from the Bitfinex exchange, appeared in court in Washington, D.C., describing how he carried out one of the largest bitcoin robberies in the world.

According to a Bloomberg report, Lichtenstein reportedly told the jury on February 27 that he had access to Bitfinex ‘s systems for several months, while hacking into individual accounts on other exchanges such as Coinbase and Kraken.

Lichtenstein and his wife, rapper Heather Morgan (also known as Razzlekhan), were arrested in February 2022. At the time, the U.S. government charged them with conspiring to launder $4.5 billion in stolen bitcoin, of which the government seized $3.6 billion, the largest financial security in history. The government seized an additional $475 million in bitcoin on August 3, 2022.

Lichtenstein and his wife pleaded guilty to conspiracy to launder money in connection with the August 2023 attack on Bitfinex . Amazon has reportedly begun production on a film about money laundering on Bitfinex. The script will likely be inspired by a 2022 article published in The New York Times, referring to them as “Bitcoin’s Bonnie and Clyde.”

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Marek Stiller
Marek Stiller
Founder of the "Cryptocurrency for Beginners" channel on YouTube. He collaborates with 艁ukasz to form the Arena Trading group, while at the same time being passionate about blockchain technology. His knowledge and experience in the cryptocurrency industry help beginner investors better understand this dynamic market.
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