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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/us-government-transfers-seized-bitcoin-and-ethereum/" data-wpel-link="internal">US Government Transfers Seized Bitcoin and Ethereum</a><br></p>
<p style="text-align: justify">A significant development shook the crypto world during the early trading hours in the US. Arkham Intelligence reported that the US government transferred $40 million worth of <a href="https://en.coin-turk.com/unprecedented-transaction-fee-for-a-simple-bitcoin-transfer-shocks-crypto-community/" data-wpel-link="internal">Bitcoin</a> and <a href="https://en.coin-turk.com/bitcoin-ethereum-and-ripple-is-the-rise-in-these-coins-permanent/" data-wpel-link="internal">Ethereum</a> previously seized from two Estonian citizens involved in a large-scale cryptocurrency fraud and money laundering scheme. This move drew the crypto community’s attention as it occurred just days after a nearly $2 billion Bitcoin transfer related to Silk Road.</p> 
<h2 style="text-align: justify" id="us-moves-btc-and-ethereum">US Moves BTC and Ethereum</h2> 
<p style="text-align: justify">According to Arkham Intelligence, using advanced tracking technology, the US government executed multiple transactions involving the seized crypto assets just two hours earlier. It was noted that approximately $24.80 million worth of 374 <a href="https://en.coin-turk.com/bitcoins-next-move-a-prominent-analyst-anticipates-bullish-breakout-beyond-30k/" data-wpel-link="internal">BTC</a> was transferred to a newly identified Bitcoin address.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-337446 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-eth-coin-turk-com-.png" alt="" width="593" height="530"></p> 
<p style="text-align: justify">Additionally, 4,567 ETH valued at $15.21 million were also moved. The fact that both the Bitcoin and Ethereum addresses are new and previously unknown to Arkham suggests a strategic move rather than an immediate sale of the assets.</p> 
<h2 style="text-align: justify" id="seized-funds">Seized Funds</h2> 
<p style="text-align: justify">The seized funds were obtained from two Estonians, Sergei Potapenko and Ivan Turogin, who were arrested in their own country in October 2022 following an 18-count indictment prepared by a grand jury in the Western District of Washington.</p> 
<p style="text-align: justify">The duo was accused of orchestrating a $575 million cryptocurrency fraud through a crypto mining service called HashFlare and a crypto bank called Polybius Bank, which never existed and failed to return promised dividends to investors.</p> 
<p style="text-align: justify">Their scheme not only involved fraudulent equipment leasing contracts but also used shell companies to launder proceeds and acquire luxury real estate and vehicles. In September of last year, the Estonian government approved the extradition of Potapenko and Turogin to the US. At that time, Estonian Prime Minister Kaja Kallas stated that the decision was made at the government level.</p> 
<p style="text-align: justify">While the crypto market closely follows these developments, the price of Bitcoin is moving above $66,650. The handling of such significant funds by the government remains a point of interest for both investors and observers in the cryptocurrency space.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/us-government-transfers-seized-bitcoin-and-ethereum/" data-wpel-link="internal">US Government Transfers Seized Bitcoin and Ethereum</a></h5>

US Government Transfers Seized Bitcoin and Ethereum

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