Major Bitcoin Transfer to Coinbase Prime Wallet

According to Arkham Intelligence data, 10,000 bitcoin, valued at nearly $600 million, has been transferred to a Coinbase Prime wallet.

Arkham noted that a wallet which received 10,000 BTC (+4.16%) from a known U.S. government wallet two weeks ago has now sent these coins to a Coinbase Prime deposit wallet.

About two weeks prior, a crypto wallet identified as belonging to the U.S. Department of Justice reportedly transferred $2 billion worth of confiscated bitcoin to an unknown wallet, based on Arkham’s findings. This bitcoin is likely part of the approximately $2 billion seized by the DOJ from the now-obsolete Silk Road dark web marketplace.

In April, another wallet with over 30,000 bitcoin conducted a test transaction of 0.001 BTC to a Coinbase Prime wallet, according to Arkham. By the end of 2023, a U.S. appeals court confirmed the forfeiture of almost 70,000 BTC and other cryptocurrencies associated with Silk Road.